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☆ US Navy warships are stuck in a Red Sea battle they can't fight forever
▼ + stars: | 2024-06-15 | by ( Jake Epstein | ) www.businessinsider.com time to read: +11 min

Components of the Dwight D. Eisenhower Carrier Group steam in formation with the Italian navy in the Red Sea on June 7. A fighter jet parks on the deck of the USS Dwight D. Eisenhower in the Red Sea on June 11. Elements of the Eisenhower strike group have already left the Red Sea once to be rearmed and resupplied, and the Pentagon recently extended its monthslong deployment for a second time. A fighter jet is launched from the USS Dwight D. Eisenhower during a strike against Houthi military targets in Yemen on Feb. 3. A commercial ship in the Red Sea in March.

Persons: —, they've, Dwight D, Navy Carlos Del Toro, What's, Eisenhower, Bernat, National Intelligence Avril Haines, Joseph Votel, John Kirby, Jorge LeBaron, Haines, Biden, Brian Finucane, Finucane, Votel, Mohammed Hamoud, That's, Nadimi Organizations: Service, US Navy, Business, Washington, Eisenhower Carrier Group, Eisenhower Carrier Strike, Ike, Navy, Pentagon, US Central Command, AP, National Intelligence, White House National Security Council, BI, Handout, US, Crisis, US State Department, Screengrab, Ministry of Defense, Defense Intelligence Agency, Galaxy Leader, The Washington Institute for Near East Locations: Gulf of Aden, Yemen, Saudi Arabia, Israel, Western, Africa, Gaza, Persian, Bab, Red

☆ Top K-pop stocks fall after reports that Hybe may sell $50 million stake in SM Entertainment
▼ + stars: | 2024-05-28 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +1 min

Shares of two of South Korea's largest K-pop companies fell on Tuesday after industry giant Hybe is said to be pushing for a $50 million sale of its stake in SM Entertainment. Kospi-listed Hybe's stock slid as much as 2.4%, while SM Entertainment — which is listed on the Kosdaq —saw its shares plunge as much as 5.74%. That puts the sale price per share at between 91,968 to 90,531 won. This means the total transaction value would come up to about 68 billion won, or about $50 million. Before the transaction, Hybe held a 12.45% stake in SM.

Persons: Hybe Organizations: SM Entertainment, Chosun Ilbo, South Korean, SM, CNBC Locations: Korean

☆ Chelsea Manalo: First Black Filipina crowned as Miss Universe Philippines
▼ + stars: | 2024-05-24 | by ( Kathleen Magramo | ) edition.cnn.com time to read: +3 min

CNN —Filipino American Chelsea Manalo became the first Black woman to be crowned Miss Universe Philippines on Wednesday. Chelsea Manalo will be representing the Philippines at the Miss Universe pageant in Mexico in September. Over 100 countries will be represented at Miss Universe 2024. The Miss Universe organization has come under scrutiny in recent weeks, as the parent company of the Miss USA organization. Both Miss USA and Miss Teen USA resigned from their roles earlier this May, amid allegations of mismanagement, a toxic work environment, and conditions that impacted their mental health.

Persons: Chelsea Manalo, “, ”, Manalo, Gloria Diaz, Margie Moran, Pia Wurtzbach, Steve Harvey, Catriona Gray Organizations: CNN, Chelsea, Miss, Philippines, Miss Universe Philippines, SM, Asia Arena, Miss Universe, TV, YouTube, Miss USA, Miss Teen USA Locations: Filipino, African American, Bulacan, Manila, Asia, Pasay, Philippines, Mexico, TV Philippines, Miss USA

☆ US Navy warships in the Red Sea are fighting off missiles new to combat that are 'way faster' than anything else, destroyer captain says
▼ + stars: | 2024-05-20 | by ( Jake Epstein | ) www.businessinsider.com time to read: +6 min

Since then, the Iran-backed rebels have fired dozens of anti-ship ballistic missiles into the Red Sea and Gulf of Aden. An anti-ship ballistic missile "is just way faster than anything else, Cmdr. Jeremy Robertson, captain of the guided-missile destroyer USS Carney, told reporters during a media event on Monday. The Houthis maintain a sizable arsenal of anti-ship ballistic missiles, according to an analysis by the the International Institute for Strategic Studies think tank. US Navy guided-missile destroyer USS Carney defeats a combination of Houthi missiles and drones in the Red Sea on October 19, 2023.

Persons: —, Jeremy Robertson, Carney, MCS2 Aaron Lau, Robertson, we've, Dwight D, Eisenhower, Petty, Bill Dodge, The Carney, Lisa Franchetti, Franchetti Organizations: Service, Navy, Business, US Navy, International Institute for Strategic Studies, Central Command, AP, Israel, Naval, Fleet Locations: American, Iran, Gulf of Aden, Suez, Yemen, Tehran, Washington, Pacific, China, Souda Bay, Greece, Mayport , Florida

☆ The US and Pacific ally Japan are teaming up to defeat new hypersonic missiles that right now are basically unstoppable
▼ + stars: | 2024-05-15 | by ( Chris Panella | ) www.businessinsider.com time to read: +4 min

Read previewThe US and Japan have agreed to work together to develop a defense system to defeat hypersonic missiles, according to the US Department of Defense. Russian navy frigate Admiral Gorshkov launching a Zircon hypersonic missile in White Sea, Russia, on July 19, 2021. Notably, Pyongyang is also attempting to develop what it says are hypersonic missiles. DF-17 medium-range ballistic missiles equipped with a DF-ZF hypersonic glide vehicle in a military parade to mark the 70th anniversary of the Chinese People's Republic. The allies successfully tested the jointly developed Standard Missile 3 (SM-3) Block IIA interceptor in a February 2017 intercept of a ballistic missile target.

Persons: —, Gorshkov, Zoya Rusinova Organizations: Service, US Department of Defense, Business, Cooperative, US Missile Defense Agency, Japan, Russian Defense Ministry Press Service, AP, China's, Aegis Ballistic Missile Defense, Iran's, Israel Locations: Japan, Russian, Sea, Russia, Pacific, Moscow, Beijing, Pyongyang, Republic, Getty

☆ This year's biggest air battles are showing the US what it could need most in a missile war with China
▼ + stars: | 2024-05-15 | by ( Jake Epstein | Chris Panella | ) www.businessinsider.com time to read: +13 min

AP Photo/Evgeniy Maloletka, FileThe war has shown how effective air defenses can be at denying air superiority, protecting key areas, and threatening high-value aircraft, as well as the costs when capabilities are degraded. Ukraine's air defenses, like its Soviet-era S-300s and US-supplied Patriots, have defeated enemy missile and drone strikes, hindered Russian air operations, and shot down numerous fighter-bombers and other Russian planes. "Ukraine and NATO might reduce risks with a two-prong strategy of strengthening air defenses and boosting infrastructure resilience." Needing more interceptors for the PacificFrom the fights this year, the US can see how it'll need to employ air defenses in a potential showdown with China. Running out of air defenses before the enemy runs out of air threats spells trouble.

Persons: —, Bradley Martin, Evgeniy, Volodymyr Zelenskyy, Firefighters, Archer Macy, Martin, Shaan Shaikh, We've, Amir Cohen TPX, Shaikh, it's, Andy Wong, Thomas Shugart, Shugart, Joshua Smoot, Heath Collins, Navy Carlos Del Toro, Macy, Mark Wright Organizations: Service, Business, US Navy, Ukraine, AP, Patriots, Institute for, Emergency, Ministry, RAND Corporation, NATO, Western, Central Command, Combat, Navy, RAND, Patriot, US, Missile Defense, Center for Strategic, International Studies, REUTERS, China, Pentagon, Defense, Center, New, Air Force, 37th Expeditionary Bomb Squadron, Andersen Air Force Base, US Air Force, Aegis, Missile Defense Agency, Former Navy, CSIS, Pacific Missile, AP Air Locations: China, Ukraine, Israel, Navy, Russia, Congress, Avdiivka, Kharkiv, Russian, Kyiv, NATO, Yemen, Gulf of Aden, Iran, Red, Screengrab, French, Ashdod, South Korea, Japan, Guam, Beijing, New American, Gen, Kauai, Hawaii

☆ China has a lot more missiles — with US warships and bases in its sights
▼ + stars: | 2024-05-04 | by ( Chris Panella | ) www.businessinsider.com time to read: +18 min

American warships and bases in the Pacific are within reach of an increasingly worrying threat, a missile force unlike anything the US has faced in combat. With these missiles, China is signaling that it could attack US bases and ships in the region with little to no warning, Clark said. TK Department of DefenseThere's a lot more to the Chinese Rocket Force than these weapons, though. AdvertisementThat said, the US and its allies can't afford to assume the Rocket Force won't be ready should conflict come. In other words, how the US prepares itself and adapts to the Chinese Rocket Force gives it the best shot at avoiding a fight altogether.

Persons: China's, Andersen, Thomas Shugart, Bryan Clark, John Aquilino, Kevin Frayer, Harry Harris, Harris, Clark, Shugart, Gerald R, Kendall Warner, Byrd, US Defense Department Harris, Robert Peters, Peters, Ronald Reagan, Andrea Rosembert, Cpl, Ryan Little, Charles Flynn, I'm, Flynn, it's, Andy Wong Organizations: Business, Army Rocket Force, Pentagon, China's Rocket Force, Department of Defense TK Department of Defense, Center, New, New American Security, US Navy, PLA, Hudson Institute, Pacific Command, People's Liberation Army Rocket Force, Eastern Theater Command, People's Liberation Army PLA, Getty, Rocket Force, Liberation, TK Department of Defense, Chinese Rocket Force, US Defense Department, Ford, Virginian, Tribune, Service, Japan, Self, Defense Force, Misawa Air Base, Pacific, US, Defense, Aegis Ballistic Missile Defense, Army, Heritage Foundation, Aegis, Guam, Area, Ronald, Ronald Reagan Ballistic Missile Defense, Department of Defense, US Air Force, Marine Corps, Andersen Air Force Base, Marine, Combat, US Army Pacific, Stealth, Force, Military Locations: Beijing, China, American, Guam, South, Washington, Japan, New American, People's Republic of China, South Korea, Taiwan, South China, AFP, U.S, Marshall, Pearl, Pacific, PLARF, Tiananmen

☆ The US Navy wants a lot more of a missile that just recently scored its first kill to counter Pacific threats like China
▼ + stars: | 2024-05-01 | by ( Jake Epstein | ) www.businessinsider.com time to read: +4 min

The US Navy used its SM-3 missile interceptor in combat for the first time last month. AdvertisementThe US Navy will need a lot more of its SM-3 missile, an interceptor that only recently scored its first-ever kill, to counter Pacific threats like China, the sea service's top civilian official said on Wednesday. The Missile Defense Agency's budget request for FY25 cuts procurement of SM-3 Block IB variant, which became operational a decade ago. During Wednesday's hearing, South Carolina Rep. Joe Wilson referred to this variant as the Navy's "primary defense against tactical ballistic missiles for the Aegis Ballistic Missile Defense" weapons system. AdvertisementThe Navy, however, is already getting a taste of what it's like to battle anti-ship ballistic missiles.

Persons: —, Navy Carlos Del Toro, Del Toro, Joe Wilson, Paul Ignatius, MCS2 Nathan T, Beard Organizations: US Navy, China, Service, Navy, House Armed, Missile Defense Agency, Combat, Missile Defense, South Carolina Rep, Aegis Ballistic Missile Defense Locations: China, Tehran, Israel, Lake Erie, Kauai, Hawaii, Washington, Beijing, American, Iran, Gulf of Aden

☆ US sends land-attack missile system to Philippines for exercises in apparent message to China
▼ + stars: | 2024-04-22 | by ( Brad Lendon | ) edition.cnn.com time to read: +8 min

The presence of the US Army’s Mid-Range Capability (MRC) ground-based missile system, increases the risks of “misjudgment and miscalculation” in a region already on edge over Chinese-Philippines face-offs in the South China Sea, Beijing says. It’s the first-ever deployment of the MRC missile system, also known as the Typhon system, to the Indo-Pacific theater, and it comes amid a series of US-Philippine military exercises, including the largest-ever edition of the bilateral Balikatan exercises beginning Monday. It also can fire the Tomahawk Land Attack Missile, a maneuverable cruise missile with a range of 1,600 kilometers (1,000 miles), according to the CSIS. Those are the same rules Washington and Manila accuse Beijing of ignoring with aggressive Chinese actions that have injured Filipino sailors and damaged vessels around disputed features in the South China Sea. US Army PacificChina’s missile advantageAnalysts say the deployment of the Typhon missile battery is the first signal of US plans to address what has long been an advantage for Beijing in the region.

Persons: Lin Jian, ” Lin, Stephen Koehler, “, equalizes, ”, Collin Koh, Christopher Milhal, Koh, Rupert Schulenberg, Donald Trump “, Thomas, CNN’s Steven Jiang Organizations: South Korea CNN, US, MRC, US Army, Missile Defense, Center for Strategic, International Studies, Foreign, US Pacific Fleet, Sunday, Xinhua, CNN, US Air Force, US Army Pacific, Beijing, Rajaratnam, of International Studies, People’s Liberation Army Rocket Force, ”, don’t, International Institute for Strategic Studies, South, Lewis, McChord, Nuclear Forces Treaty, Russian, Philippine News Agency, CNN Philippine Locations: Seoul, South Korea, China, United States, Philippines, South China Sea, Beijing, Philippine, South China, Taiwan Strait, Qingdao, Washington, Manila, Asia, Pacific, Japan, Taiwan, Guam, Singapore, South, Soviet Union, Palawan, Sulu, Spratly

☆ US and Israeli weapons able to kill missiles in outer space were used to stop an Iranian attack. Those intercepts are tough shots.
▼ + stars: | 2024-04-17 | by ( Chris Panella | ) www.businessinsider.com time to read: +6 min

Both the US and Israel used weapons capable of killing missiles in space to fend off Iranian weapons last weekend. Videos circulating online from the fight appeared to show an exo-atmospheric kill, though details are few. Intercepting a ballistic missile outside the Earth's atmosphere is a challenging task, an expert told Business Insider. Very unique footage showing an exoatmospheric interception amid the Iranian ballistic missile attack, likely by the Arrow 3 air defense system. The SM-3 is also capable of destroying short- to intermediate-range ballistic missiles during the midcourse phase and can hit targets outside the Earth's atmosphere.

Persons: —, Arrow, wrZNCV01tn — Emanuel, Mannie, Fabian, @manniefabian, Sidharth, Kaushal, Amir Cohen Organizations: Service, US, Iranian, ABM, Times, US Department of Defense, Israel Defense Force, Arrow, Royal United Services Institute, Reuters, Israel, Houthi, Center, Strategic, International Studies, Washington DC, US Navy, Missile Defense Locations: Israel, Iranian, Iran, Ashkelon, Washington

☆ K-pop stocks have sold off this year, but Goldman sees a turnaround
▼ + stars: | 2024-04-17 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +4 min

Goldman Sachs, however, expressed optimism for the industry in a March 14 report, saying the K-pop sector is "misunderstood." Nonetheless, Goldman Sachs said it sees a "high potential for valuation re-rating," as companies still continue to deliver multi-year earnings growth. Goldman pointed out that Japan's top talent agency Johnny & Associates has been mired in a major scandal, leading to the industry turning more favorable to K-pop artists. In 2023, Kouhaku Uta Gassen, the largest music show in Japan, invited five K-pop artists and two localized groups produced by K-pop companies. It was the first time the show has featured male K-pop artists since 2011 and the largest number of K-pop groups ever featured in its line up.

Persons: Danielle, Hyein, NewJeans, Gary Miller, Goldman Sachs, Karina, Goldman, Kouhaku Uta Gassen Organizations: Park, Filmmagic, JYP, YG Entertainment, SM Entertainment, Hybe, SM, Johnny, Associates Locations: CHICAGO , ILLINOIS, Chicago , Illinois, Japan, U.S

☆ US Navy warships shot down Iranian missiles with a weapon they've never used in combat before
▼ + stars: | 2024-04-16 | by ( Jake Epstein | ) www.businessinsider.com time to read: +4 min

US Navy warships fired SM-3s to intercept Iranian ballistic missiles last weekend. AdvertisementUS Navy warships used a missile interceptor for the first time in combat over the weekend as they defended Israel from an unprecedented Iranian attack. AdvertisementA developmental Standard Missile-3, designed to intercept short to medium-ranged ballistic missile threats, is launched from the Pearl Harbor-based Aegis cruiser USS Lake Erie. There are multiple SM-3 variants, which can be fired from a Navy warship's vertical launching system, and the Block I interceptors were first fielded nearly 20 years ago. US Central Command said American forces, specifically, destroyed more than 80 drones and at least six ballistic missiles.

Persons: Navy Carlos Del Toro, —, Del Toro, Arleigh Burke, Carney, Del Toro's, Thomas Hudner, Kerri Kline, CENTCOM, Iran's Organizations: Navy, Service, Aegis, Getty, Combat, for Strategic, International Studies, Missile Defense, US Navy, Mass Communications, Central Command, American Locations: Israel, American, Tehran, Iran, Lake Erie, East

BANGKOK (AP) — Vietnamese automaker VinFast announced Tuesday that it plans to sell its electric vehicles in Thailand and said it had tied up with auto dealers to open showrooms in the country. VinFast, which only began exporting its EVs last year, faces stiff competition in Thailand from Chinese automakers like BYD. The Thai EV market is small but growing fast, buoyed by incentives and subsidies from the government. VinFast hopes to start selling both its electric scooters and electric SUVs in the country in the next two months, Vu Dang Yen Hang, chief executive officer of VinFast Thailand, told The Associated Press. But the EV market remains small, accounting for only 0.5% of EV sales worldwide in 2022.

Persons: VinFast, Tesla, Vu Dang, Hang, Pham Nhat Vuong, EVs, Vuong Organizations: Thai EV, Associated Press, Research, EV, Green SM, Nasdaq, General Motors Corp, Ford Motor Co, AP Locations: BANGKOK, Thailand, Bangkok, Thai, EVs, Southeast Asia, Vietnam, Indonesia, Ukraine, United States, North Carolina, India, Laos, U.S

☆ NATO navies can exploit a Russian fear and keep Putin from invading more neighbors
▼ + stars: | 2024-03-03 | by ( Michael Peck | ) www.businessinsider.com time to read: +5 min

Today, NATO's naval power is far superior to Russia's. NATO may dominate the oceans, but that may not be much help if Russian tanks invade the Baltic States or Poland. Or more specifically, use naval power to scare Moscow into allocating its scarce resources to defending its huge coastlines rather than invading neighbors. "Rather than naval combat per se, the purpose of Russian sea power is to ensure that the Russian state can compete and engage in conflict safely and effectively," the essay said. In 2024, the fear is that NATO ships could launch long-range guided missiles at the Russian heartland.

Persons: Napoleon, Hitler fumed, Russia —, Kaushal, Rene Balletta, Alfred Thayer Mahan, Michael Peck Organizations: Service, Channel, Royal Navy, NATO, Alliance, Britain's Royal United Services Institute, Russian Navy, Black, Century, Russia, Russian Army and Aerospace Forces, West, Baltic, Defense, Foreign Policy, Rutgers Univ, Twitter, LinkedIn Locations: British, Russia, Baltic States, Poland, Moscow, Britain, Europe, Asia, Russian, Crimean, Sevastopol, Ukraine, Russia's, Finland, Norway, Forbes

☆ German warship accidentally opened fire on an American drone, nearly costing the US another Reaper in its Red Sea fight
▼ + stars: | 2024-02-29 | by ( Jake Epstein | Ryan Pickrell | ) www.businessinsider.com time to read: +5 min

A German warship accidentally tried to shoot down a US military combat drone this week. The frigate Hessen targeted the MQ-9 Reaper as it was on a mission around the Red Sea, a US official said. AdvertisementA German warship accidentally targeted an American combat drone that was operating around the Red Sea earlier this week, but a malfunction spared the US from losing another Reaper drone. A missile launches from a US Navy destroyer in the Red Sea earlier this month. Screengrab/US Central Command via XMeanwhile, with this week's engagements — which saw Germany shoot down the two Houthi drones — Berlin joins the US, UK, and France in eliminating deadly threats launched by the rebels.

Persons: —, Boris Pistorius, Sina Schuldt, Aspides, Dwight D Organizations: Service, Berlin's, Airmen, Squadron, Nevada, Air, Bomb, US Air Force, Victoria, US Central Command, Hessen, Getty, Hellfire, Prosperity Guardian, EU, US Navy, Central Command, Eisenhower Carrier Strike Locations: Hessen, American, Sachsen, Germany, Red, Yemen, Russia, France

☆ VinFast loss widens in fourth quarter, confident of achieving 2024 sales goals
▼ + stars: | 2024-02-23 | by ( ) www.cnbc.com time to read: +2 min

Nhac Nguyen | Afp | Getty ImagesVietnamese electric vehicle, or EV, maker VinFast on Thursday said its fourth-quarter net loss deepened 3.4% from the previous three months but it aims to nearly triple vehicle sales this year as it expands into new markets. VinFast's net losses in the final quarter of 2023 reached $650.1 million, also 1.3% higher than the same period of 2022. watch nowOther automakers, in contrast, have slashed EV sales targets and curtailed investment plans due to weakening demand in major markets such as the United States. Fewer than 1,000 units were sold in North America, Thuy said, adding that new dealerships would boost VinFast's sales this year compared to its direct sales model. Founded in 2017 and making EVs since 2021, VinFast has announced numerous EV growth plans overseas.

Persons: VinFast, Nguyen, Le, Thuy, Pham Nhat Vuong Organizations: Afp, Getty, Reuters, Green SM, GSM Locations: United States, North America, North Carolina, India, Indonesia, Vietnam

☆ 4 of our stocks report earnings next week. Here's what we want to see from each
▼ + stars: | 2024-02-17 | by ( Zev Fima | ) www.cnbc.com time to read: +9 min

A hotter-than-expected consumer price index on Tuesday sent stocks reeling, with the Dow posting its biggest drop in a year. Stocks bounced back over the next two days, helped by a softer retail sales report , only to slump again on Friday's hot producer price index for January. As we said this week, we're not overly concerned with the hotter-than-expected inflationary readings. Earnings season picks back up for the Club next week, with four holdings set to report quarterly results. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

Persons: Wall, Stocks, we're, Palo, Fortinet, BCH's Bausch, Management doesn't, Dana, Bausch, Dr Pepper, Diana Shipping, Jim Cramer's, Jim Cramer, Jim, Jensen Huang, Walid Berrazeg Organizations: Dow Jones Industrial, Nasdaq, Dow, Federal Reserve, Club, Palo Alto, Palo, billings, Nvidia, Amazon, Microsoft, Bausch Health, Coterra Energy, Management, NYSE, Walmart, Axsome Therapeutics, Barclays Bank, Armstrong World Industries, Ceragon Networks, Tri Pointe Homes, Dana Incorporated, DigitalBridge, Oil States International, Systems, Allegion, CenterPoint Energy, Equitrans Midstream Corporation, Expeditors International of Washington, Alto Networks, SolarEdge Technologies, Enovix Corporation, Caesars Entertainment, Diamondback Energy, Toll, Ternium S.A, Celanese Corp, Chesapeake Energy, CVR Energy, Reserve, Vertiv Holdings Co, Properties Trust, Devices, HSBC Holdings plc, HSBC, Lomb, Sinclair Corporation, Pagaya Technologies, Gibraltar Industries, Garmin, NVIDIA, Rivian Automotive, Sunnova Energy International, Bros, Apache, Oil, Suncor Energy, Co, FNF, Sciences, Coeur D'Alene Mines, Trip.com, Joby Aviation, Resources, Alamos, Jackson, Nutrien, NTR, Pan, Sm Energy Company, Health, Newmont, Nikola Corporation, Cheniere Energy, Fiverr, Natural Resources, Point Credit, Lantheus Holdings, Builders, Grab Holdings, NICE, Dominion Energy, Harmony Biosciences Holdings, Teck Resources Limited, Intellia Therapeutics, Energy, Booking Holdings, Intuit, Semiconductor, Nation Entertainment, Vale S.A, Rocket Companies, Warner Bros ., AerCap Holdings, Natural Holdings, Calumet Specialty Products Partners, Frontier Communications, Jim Cramer's Charitable, CNBC, Lightrocket, Getty Locations: billings, Palo Alto, China, Xifaxan, Tri Pointe, Avista, Gibraltar, Coeur D'Alene, Pan American, Teck, Vale

☆ US sailors on a front-line destroyer in the Red Sea sometimes have just seconds to open fire on enemy missiles
▼ + stars: | 2024-02-16 | by ( Jake Epstein | ) www.businessinsider.com time to read: +5 min

US Navy ships have spent months shooting down Houthi missiles and drones off the coast of Yemen. This simulated scenario that Business Insider observed firsthand offers a glimpse into what sailors aboard the American warship USS Gravely have been facing. AdvertisementSailors work in the combat information center on the USS Gravely. AdvertisementThe combat information center aboard the USS Gravely. AdvertisementThe guided-missile destroyer USS Gravely launches Tomahawk Land Attack Missiles in response to increased Iranian-backed Houthi malign behavior in the Red Sea Jan. 12, 2024.

Persons: —, Dwight D, Jake Epstein, LTJG James Rodney, Rodney, Arleigh Burke, Jonathan Word, GM2 Joselyn Martinez, Martinez Organizations: Navy, Sailors, Business, Service, Eisenhower Carrier Strike, Business Insider US Navy, US Navy, Interceptor Locations: Yemen, Iran, Red

☆ Phalanx CWIS deployed on a Houthi missile just seconds from hitting a US warship
▼ + stars: | 2024-02-02 | by ( Brad Lendon | ) edition.cnn.com time to read: +4 min

The automated Phalanx system features Gatling guns that can fire up to 4,500 20-millimeter rounds a minute, engaging projectiles or other targets at extremely close range. Tom Karako, director of the Missile Defense Project at the Center for Strategic and International Studies, said it was “concerning” that the Houthi missile got so close to a US warship. Whether it comes into further use in the current hostilities in the Red Sea remains to be seen. And on Thursday, US forces shot down a Houthi drone over the Gulf of Aden and destroyed a surface drone in the Red Sea, it said. Meanwhile, two ballistic missiles launched from Houthi-controlled areas of Yemen missed targets in the Red Sea, Central Command said.

Persons: Boxer, Jesse Monford “, Tom Karako, ” Karako, Carl Schuster, ” Schuster, Schuster, ”, Carney Organizations: CNN, Navy, U.S . Navy, Mass, Raytheon, Missile Defense, Center for Strategic, International Studies, US Navy, US Central Command, Command Locations: ”, Iran, Yemen, Israel, Gaza, Aden, Red, Red Sea

☆ A Houthi missile got so close to a US destroyer the warship turned to a last-resort gun system to shoot it down: report
▼ + stars: | 2024-01-31 | by ( Ella Sherman | Jake Epstein | ) www.businessinsider.com time to read: +4 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewA Houthi anti-ship cruise missile fired into the Red Sea came within a mile of a US Navy destroyer on Tuesday, a report said, close enough that the American warship turned to its close-in weapons system — a last line of defense. AdvertisementFor several months, the Iran-backed rebels have relentlessly fired one-way attack drones and missiles into key waterways off the coast of Yemen. The USS Gravely, an Arleigh Burke-class guided-missile destroyer in the US Navy, transits during a passing exercise off the coast of Greenland. Advertisement"We're certainly taking aggressive action against the Houthis to try to defend shipping in the Red Sea," John Kirby, the White House National Security Council spokesperson, said this week.

Persons: —, Centcom, Arleigh Burke, Jessica Dowell, Andrew Albin The, Aden —, John Kirby Organizations: Service, US Navy, CNN, Business, US Central Command, Raytheon, System, US, White House National Security Council Locations: American, Yemen, Iran, Greenland, Gulf, Aden, Red

☆ A Houthi missile got so close to a US destroyer the warship had to turn to a last resort gun system to shoot it down: report
▼ + stars: | 2024-01-31 | by ( Ella Sherman | Jake Epstein | ) www.businessinsider.com time to read: +4 min

A Houthi missile put a US destroyer's Close-In Weapon System to the test in a recent engagement. The Tuesday incident marks the latest Houthi missile attack, though not the latest exchange of fire. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. AdvertisementA Houthi anti-ship cruise missile fired into the Red Sea came within a mile of a US Navy destroyer on Tuesday, close enough that the American warship had to turn to its Close-In Weapon System — a last line of defense. Advertisement"We're certainly taking aggressive action against the Houthis to try to defend shipping in the Red Sea," White House National Security Council spokesperson John Kirby said this week.

Persons: —, CENTCOM, US Navy Arleigh Burke, Jessica Dowell, Andrew Albin The, Aden —, John Kirby Organizations: Service, US Navy, CNN, US Central Command, Raytheon, System, US, National Security Locations: American, Yemen, Iran, Greenland, Gulf, Aden, Red

On a trip to the sprawling factory in the port city of Haiphong in northern Vietnam, Widodo also sat behind the wheel of a VinFast electric car before wrapping up his three-day visit to Vietnam. The Vietnamese EV maker has said it will invest $1.2 billion in Indonesia and build a factory with the potential to make up to 50,000 vehicles every year. Green SM, an EV taxi operator that is mostly owned by VinFast’s founder, also announced an investment plan of $900 million in Indonesia. VinFast's plans to expand in Indonesia are part of their global goal of selling EVs in 50 markets worldwide. It is exporting EVs to the U.S. and also building a $4 billion EV factory in North Carolina, where production is slated to begin this year.

Persons: Joko Widodo, Widodo, GoTo, Tokopedia Tbk, Pham Nhat Vuong Organizations: Green SM, EV, VinFast’s, Group, AP Locations: HANOI, Vietnam, Indonesia, Haiphong, Vietnamese, Indonesian, North Carolina, India, Vingroup, Ukraine

☆ US warship shoots down drone believed to have been launched from Yemen
▼ + stars: | 2023-11-15 | by ( Haley Britzky | ) edition.cnn.com time to read: +1 min

CNN —A US warship shot down a drone that is believed to have originated from Yemen in the Red Sea on Wednesday, according to two US officials. The USS Thomas Hudner, an Arleigh Burke class guided missile destroyer, engaged a drone that originated from Yemen on Wednesday and was heading towards the ship, a defense official confirmed to CNN. The Pentagon said the missiles were fired by Iranian-backed Houthi forces. Wednesday’s engagement comes a week after a US MQ-9 Reaper drone was shot down by Houthi forces off the cost of Yemen. It also comes amid continuous attacks by Iranian-backed forces in the region.

Persons: Thomas Hudner, Arleigh Burke, Gerald R, Carney, Pat Ryder, ” Organizations: CNN, Reuters, Ford Carrier Strike, US Navy, Pentagon Locations: Yemen, Israel, Iranian, Iraq, Syria

☆ Yemen's Houthi rebels are using the Israel-Hamas war to show off their growing arsenal, and US warships are in the crossfire
▼ + stars: | 2023-11-06 | by ( Paul Iddon | ) www.businessinsider.com time to read: +8 min

The US Defense Department later confirmed that the Houthi missiles had a range of no less than 2,000 kilometers, or about 1,240 miles. AdvertisementAdvertisementUSS Carney fires on Houthi missiles and drones over the Red Sea on October 19. A third incident, on October 31, saw Israel's advanced Arrow air-defense system intercept a Houthi ballistic missile and an Israeli F-35 stealth fighter shoot down a cruise missile. Houthi ballistic missiles "have long proven" inaccurate, and the group likely doesn't have a very large stockpile of advanced long-range missiles and drones, Bey added. Sailors in USS Carney's Combat Information Center during an operation to defeat Houthi missiles and drones on October 19.

Persons: Yemen's Houthi, —, Carney, MCS2 Aaron Lau, Houthis, Khaled Abdullah The, Matthew Bey, RANE, Khaled Abdullah, Bey, wasn't, Mason, ANDREW CABALLERO, REYNOLDS, Bryan Clark, Clark, Paul Iddon Organizations: US Navy, Service, Hamas, US Defense Department, REUTERS, Saudi, Ballistic, Houthi, Tomahawk, Patriot, Getty, Hudson Institute Locations: Israel, Yemen, Saudi Arabia, Taba, Nuweiba, Israeli, Gaza, Sanaa, Iran, Tehran, Riyadh, Yemeni, Mandeb

☆ Kakao faces growing regulatory risks as political scrutiny rises
▼ + stars: | 2023-11-03 | by ( Joyce Lee | ) www.reuters.com time to read: +4 min

The Kakao messaging application and the Kakao T taxi booking application are seen on a mobile phone in this illustration photo March 13, 2018. South Korean President Yoon Suk Yeol told a public meeting on Wednesday that the market behaviour of Kakao Mobility's taxi-hailing service was monopolistic and required a review. Its regulatory troubles escalated last month when one of its executives was arrested for suspected stock market manipulation during its acquisition of K-Pop agency SM Entertainment (041510.KQ). Last week, regulator Financial Supervisory Service (FSS) said it will refer Kakao, its affiliate Kakao Entertainment and executives involved in the SM Entertainment acquisition to public prosecutors for suspected violation of the Capital Markets Act. "It is necessary to pay attention to legal risks, as problems may arise in the status of KakaoBank depending on the probes' results."

Persons: Thomas White, Yoon Suk Yeol, Kakao, Oh Dong, hwan, Joyce Lee, Miyoung Kim, Sam Holmes Organizations: REUTERS, Kakao Corp, Naver Corp, Reuters, Mobility, SM Entertainment, Financial Supervisory Service, Kakao Entertainment, Pension Service, NPS, Samsung Securities, Thomson Locations: SEOUL, Korean, Kakao

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