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☆ Watch CNBC’s full interview with SoFi's Liz Young Thomas, Virtus’ Joe Terranova and JPMorgan’s Jack Manley
▼ + stars: | 2024-07-25 | 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 EmailWatch CNBC’s full interview with SoFi's Liz Young Thomas, Virtus’ Joe Terranova and JPMorgan’s Jack ManleySoFi's Liz Young Thomas, Virtus’ Joe Terranova and JPMorgan’s Jack Manley, join 'Closing Bell' to discuss markets, SearchAI and market rotation.

Persons: SoFi's Liz Young Thomas, Virtus, Virtus ’ Joe Terranova, JPMorgan’s Jack Manley SoFi's Liz Young Thomas, JPMorgan’s Jack Manley Organizations: Virtus ’

☆ SoFi's Liz Young Thomas expects a rotation into utilities, staples and health care
▼ + stars: | 2024-07-25 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailSoFi's Liz Young Thomas expects a rotation into utilities, staples and health careSoFi's Liz Young Thomas, Virtus’ Joe Terranova and JPMorgan’s Jack Manley, join 'Closing Bell' to discuss markets, SearchAI and market rotation.

Persons: Liz Young Thomas, SoFi's Liz Young Thomas, Virtus, Virtus ’ Joe Terranova, JPMorgan’s Jack Manley Organizations: Virtus ’

☆ Nickelback, Post Malone, Chris Brown, and other stars took COVID cash despite their accountants' initial concerns about 'perjury' and 'perception problems,' court documents say
▼ + stars: | 2024-07-25 | by ( Jack Newsham | ) www.businessinsider.com time to read: +6 min

You can opt-out at any time by visiting our Preferences page or by clicking "unsubscribe" at the bottom of the email. Congress created the Shuttered Venue Operators Grant in 2021 to help theaters and indie music venues stay in business during the pandemic lockdowns. A 2023 Business Insider investigation found that dozens of wealthy musicians used ineffective oversight and loopholes in the law to line their pockets. But once the law was passed, Strickland said he focused on helping as many people get money as possible. According to an email, he ended up telling NKSFB to pull the application, figuring he was being fed "BS" by a consultant.

Persons: Post Malone, Chris Brown, Nickelback, Lil Wayne, didn't, —, Paul Anka —, David Hickok, Hickok, Bessy Wong, Mickey Segal, Anka, Segal, NKSFB, Kyle Leunissen, Suicideboys, Michael Strickland, Lites, Strickland, Paul Anka Organizations: Service, Small Business Administration, Business, Post, SBA, BI, Billboard Locations: Angeles, American, NKSFB

☆ Oil prices fall more than 1% as worries about Chinese economy grow after surprise rate cuts
▼ + stars: | 2024-07-25 | by ( Spencer Kimball | ) www.cnbc.com time to read: +1 min

An oil pump jack is shown in a field on June 27, 2024 in Stanton, Texas. Crude oil futures fell more than 1% on Thursday as concerns about the health of China's economy grow after the country's central bank cut rates twice in a week. The People's Bank of China slashed interest rates in a unexpected move Monday, followed by a surprise cut to its medium term facility lending rate on Thursday. Here are today's energy prices:Oil prices are down despite declining U.S. crude and gasoline inventories indicating an uptick in demand and second quarter economic growth coming in at a 2.8% rate for the second quarter. The possibility of a cease-fire in the Israel-Hamas is raising hopes that tensions in the Middle East will de-escalate.

Persons: China's, Amarpreet Singh Organizations: People's Bank of China, Barclays Locations: Stanton , Texas, Israel

☆ Cameo was once valued at $1 billion. Now it's so broke it can't pay a $600,000 fine.
▼ + stars: | 2024-07-24 | by ( Jacob Shamsian | Jack Newsham | ) www.businessinsider.com time to read: +1 min

Cameo was once a tech unicorn, valued at over $1 billion just three years ago. Now it can't pay a $600,000 fine, according to a recent settlement document. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . Now, Cameo can't even pay a $600,000 fine. This story is available exclusively to Business Insider subscribers.

Persons: Cameo, —, Letitia James Organizations: Service, New York, Business

☆ 2024 Paris Olympics viewer’s guide: NBC’s plans, Snoop Dogg, and the big ratings question
▼ + stars: | 2024-07-24 | by ( Richard Deitsch | ) www.nytimes.com time to read: +18 min

Follow our Olympics coverage in the lead-up to the Paris Games. The Paris Games will have more programming hours on the NBC broadcast network than any previous Olympics. NBC is upping its celebrity presence for its Olympic coverage in Paris, headlined by Snoop Dogg. “Research shows that it is a challenge to keep viewers after 10 p.m. ET,” NBC Olympics producer Rob Hyland said. NBCUniversal owns the U.S. media rights to the Olympic Games through 2032, so Paris (2024), Milan-Cortina (2026), Los Angeles (2028) and Brisbane (2032).

Persons: Peacock, Molly Solomon, NBC’s, “, ” Solomon, Solomon, Snoop, Snoop Dogg, Christian Petersen, Kelly Clarkson, Peyton Manning, Mike Tirico, Alex Cooper, Leslie Jones, Kevin Hart, Kenan Thompson, Colin Jost, Cooper, Simone Biles, Manning, Ryan Crouser, Jones, Katie Ledecky, Sha’Carri Richardson, Lily Collins, Anna Hall, Ledecky, LeBron James, Sydney McLaughlin, Kelly Campbell, Peacock’s, Scott Hanson, Andrew Siciliano, Jac Collinsworth, Matt Iseman, Akbar Gbajabiamila, ”, Al Michaels, Mark Lazarus, Sanya Richards, Ross, Rowdy Gaines, Tim Daggett, Laurie Hernandez, Samantha Peszek, Misty, Julie Foudy, Dwyane Wade, LaChina Robinson, Michael Phelps, Dan Hicks, Gaines, Maddie Meyer, they’ll, Rob Hyland, Andres Cantor, Rebecca Lowe, Craig Melvin, Ahmed Fareed, Damon Hack, Maria Taylor, Cara Banks, Laura Britt, Trenni Casey, Lindsay Czarniak, Carolyn Manno, Kathryn Tappen, John Roethlisberger, “ John, He’s, …, breaststroker Lilly King wagged, Ryan Murphy, Sunny Choi, Victor Montalvo, Joe Gesue, Ron Vaccaro, NBCU, it’s, NBCUniversal, Rick Cordella, Dan Goldfarb, Stuart Franklin Organizations: Paris, NBC, Paris Games, U.S, Tokyo Olympics, Olympics, NBC Olympics, NBC’s, Getty, NBC Sports, Tokyo Games, Beijing, Games, USA, CNBC, Golf Channel, Telemundo, Universo, NBCOlympics.com, “, ”, NFL, NBCUniversal Media, Paris La Défense, Research, Olympic, Grand Palais, Concorde, NBC Sports ’, Olympic Games, Cortina Locations: Paris, Beijing, Pyeongchang, South Korea, Central, Pacific, U.S, Paris ”, Teahupo’o, Tahiti, Rio de Janeiro, Brazil, China, Rio, Tokyo, Peacock, United States, Versailles, Grand, London, Russian, Norway, South Carolina, Milan, Los Angeles, Brisbane, French

☆ ‘Coup’ and ‘Cover-Up’: How the G.O.P. Is Reacting to the Harris Candidacy
▼ + stars: | 2024-07-24 | by ( Karen Yourish | Lazaro Gamio | ) www.nytimes.com time to read: +7 min

Recent polling suggests nearly 9 in 10 Americans believe Mr. Biden’s decision to step aside was the right one. 65 called Mr. Biden’s withdrawal a coup or said it amounted to election interference. These statements have tended to argue that Mr. Biden’s decision to end his candidacy was not his own, was not democratic or both. Some of this language began to bubble up among Republicans even before Mr. Biden announced that he would drop out. One common line of attack, positing that Ms. Harris failed as a “border czar,” is misleading.

Persons: ’, Joe Biden, ‘, Harris, Kamala Harris, Biden’s, Harris’s, Biden, Mr, Biden —, —, ’ Thomas Massie, Trump, ’ Mark Alford, Josh Hawley, Donald J, Chris LaCivita, Trump’s, ”, I’m, Biden Harris, he’s, ’ Eric Schmitt, Roger Marshall Senator, Kan, Kat, ‘ Kamala Harris, ’ Ron DeSantis, ’ Jack Bergman, ’ Mike Johnson, ‘ Where’s Biden, Nancy Mace, S.C, ’ Markwayne Mullin, Okla, ’ Lauren Boebert, ” Harris, Greg Abbott Governor, ’ Elise Stefanik, Cackling Kamala, ’ Warren, ‘ Fran, ’ Mike DeWine, ’ Lindsey Graham, ’ Lisa Murkowski Organizations: Left, New York Times, White, The Times, ’ Thomas Massie Representative, Republican, Convention, Biden, Kat Cammack, Fla, House, Democrats, Colo, Far Left Democrats ’, ’ Warren Davidson Representative Locations: Delaware, Covid, Ky, Mo, Fla, Washington, Greg Abbott Governor , Texas, Ohio, Alaska

☆ Komodo dragons have iron-tipped teeth, new study shows
▼ + stars: | 2024-07-24 | by ( Jack Guy | ) edition.cnn.com time to read: +3 min

London CNN —Komodo dragons, the world’s largest species of lizard, have iron-tipped teeth that help them to rip their prey apart, according to new research. Komodo dragons are native to Indonesia and weigh around 80 kilograms (176 pounds) on average. LeBlanc analyzed teeth from museum collections as well as from a Komodo dragon named Ganus, which lived at London Zoo until it was euthanized last year. Analysis showed that iron was already present when the teeth erupted from the gum tissue, and was also present despite Ganus having a very different diet to wild Komodo dragons, he added. The findings may help us understand how carnivorous dinosaurs, which had curved, serrated teeth similar to Komodo dragons, would have killed and eaten their prey, LeBlanc said.

Persons: Charlotte Ellis, Aaron LeBlanc, LeBlanc, ” LeBlanc, ”, “, Ganus, Benjamin Tapley Organizations: London CNN, Zoological Society of London, King’s College London, CNN, King’s College London “, London Zoo Locations: London, Indonesia

☆ U.S. crude oil rebounds more than 1% after sell-off
▼ + stars: | 2024-07-24 | by ( Spencer Kimball | ) www.cnbc.com time to read: +1 min

An oil pump jack is shown in a field in Stanton, Texas, on June 27, 2024. U.S. crude oil futures rebounded more than 1% Wednesday, breaking a three-day losing streak as an industry report pointed to falling U.S. crude inventories and as wildfires in Canada raise the risk of supply disruptions. The American Petroleum Institute reported that U.S. crude oil stocks fell by 3.86 million barrels for the week ended July 19, according to reports. It is the fourth consecutive week of inventory declines. U.S. crude oil fell nearly 2% on Tuesday, the third consecutive day of losses, amid renewed hopes that Gaza cease-fire negotiations could de-escalate Middle East tensions, and as gasoline demand in the U.S. has largely disappointed so far this summer.

Persons: Goldman Sachs Organizations: American Petroleum Institute, Department, Energy Locations: Stanton , Texas, Canada, Alberta, Gaza, U.S

☆ Stunning ancient Roman mosaic found submerged in the sea off Naples
▼ + stars: | 2024-07-24 | by ( Jack Guy | ) edition.cnn.com time to read: +2 min

CNN —A mosaic from the floor of an ancient Roman villa has been uncovered on the seabed in the waters off Naples. A diver works on the submerged mosaic floor. The aim is to try to reconstitute an entire section of the floor, according to the post. The floor would have been laid toward the end of the Roman Empire, “shortly before bradyseism brought these wonders to the bottom of the sea,” he said. The last major eruption of Campi Flegrei was in 1538, and it created a new mountain in the bay.

Persons: Julius Caesar, Emperor Nero, Josi Gerardo Della Ragione, “, bradyseism, ”, Campi, Flegrei Organizations: CNN, Italian Ministry of Culture, Local, Facebook, National, of Geophysics Locations: Naples, Baiae, Empire, Roman, Capri, Ischia

☆ John Mayall, influential Blues musician, has died at 90
▼ + stars: | 2024-07-23 | by ( Dan Heching | Dalia Faheid | ) edition.cnn.com time to read: +3 min

CNN —John Mayall, a pioneering Blues musician who was recently announced as a 2024 inductee into the Rock & Roll Hall of Fame, has died. “It is with heavy hearts that we bear the news that John Mayall passed away peacefully in his California home yesterday, July 22, 2024, surrounded by loving family. John Mayall gave us ninety years of tireless efforts to educate, inspire and entertain,” the message said. Called “the godfather of British blues” by the Rock & Roll Hall of Fame, the singer-songwriter, multi-instrumentalist and bandleader was a pioneer of Blues music in England during the 1960s. Mayall was inducted into the Blues Hall of Fame in 2016.

Persons: CNN — John Mayall, Mayall’s, John Mayall, John, Queen Elizabeth II, Mayall, “, ”, Eric Clapton, Joe Walsh, Steve Van Zandt, Alex Lifeson, Peter Green, Mick Taylor, Jack Bruce, John McVie, Mick Fleetwood, Aynsley Dunbar – Mayall Organizations: CNN, Roll Hall of Fame, Blues, Blues Hall of Fame, Hall of Fame, of Fame, Facebook Locations: California, England, British, Cheshire, Los Angeles, United States, Europe

☆ SandboxAQ CEO on their Nvidia collaboration
▼ + stars: | 2024-07-23 | 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 EmailSandboxAQ CEO on their Nvidia collaborationJack Hidary, SandboxAQ, and Jim Breyer, Breyer Capital founder and CEO, join 'Money Movers' to discuss what Sandbox is and the technological edge the company has, why Breyer is so excited about the large quantitative model, and how to think about the opportunity for quantitative AI.

Persons: Jack Hidary, Jim Breyer, Breyer Organizations: Nvidia, Breyer Capital

☆ Opinion | Judge Cannon and JD Vance Are on the Same Team
▼ + stars: | 2024-07-23 | by ( Jesse Wegman | ) www.nytimes.com time to read: +1 min

In the days since Judge Aileen Cannon issued her inexplicable 93-page dismissal of the classified-documents case against Donald Trump, I’ve been coming back to something JD Vance said on a podcast in 2021. Mr. Vance, the Ohio senator and now Mr. Trump’s running mate, predicted on the podcast that the former president, who had been recently disgraced by his insurrectionary attempt to overturn the 2020 election, would nevertheless run again in 2024. Should Mr. Trump win, Mr. Vance said, he had some advice: “Fire every single midlevel bureaucrat, every civil servant in the administrative state, replace them with our people.” And if the courts ruled against him? No problem, Mr. Vance said: Just blow them off. “We are in a late republican period,” he added, alluding to weakness in the ancient Roman Republic.

Persons: Aileen Cannon, Donald Trump, I’ve, JD Vance, Vance, Trump’s, Trump, ”, Jack Murphy, ’, Mr, Murphy, “ Locations: Ohio, Roman Republic

☆ Simone Biles is back at the Olympics, and no one is telling her what to do anymore
▼ + stars: | 2024-07-23 | by ( Dana O'Neil | ) www.nytimes.com time to read: +11 min

It began in Tokyo when Simone Biles said she couldn’t go on and no one told her she’d better go anyway. We were all beaten down and battered,” Strug’s teammate Dominique Dawes says in “Simone Biles Rising,” a Netflix documentary. Simone Biles talks with coach Cécile Canqueteau-Landi after the vault that led her to withdraw from the team all-around at the Tokyo Olympics. Are they really letting Simone Biles try out for the Olympics? GO DEEPER Team USA's Olympics gymnastics leotards revealed: A look at the eight designs for Paris(Top illustration: Dan Goldfarb / The Athletic; photo of Simone Biles: Jamie Squire / Getty Images)

Persons: couldn’t, Kerri Strug, Béla Károlyi, ”, Larry Nassar, Simone Biles, Strug, Jack Youngblood’s, Kirk Gibson’s, Willis Reed’s, Michael Jordan’s, Demi Moore, Bruce Willis, Bill Clinton, “, Doug Pensinger, Karolyi, Dominique Dawes, “ Simone Biles, Biles, Cécile Canqueteau, Landi, Robert Deutsch, “ It’s, I’ve, ” Simone, don’t, ” Simone Biles, Elsa, Getty, audibly —, “ They’ll, leotards, Dan Goldfarb, Jamie Squire Organizations: Paris Games, United, Olympic, Gymnastics, Paris, Planet Hollywood, Sports Illustrated, USA, Netflix, Team, U.S, Tokyo, Russian Olympic Locations: Atlanta, United States, Tokyo, U.S, American, Strug, Russia, USA, Paris

☆ Watch CNBC's full interview with SandboxAQ's Jack Hidary and Breyer Capital's Jim Breyer
▼ + stars: | 2024-07-23 | 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 EmailWatch CNBC's full interview with SandboxAQ's Jack Hidary and Breyer Capital's Jim BreyerJack Hidary, SandboxAQ, and Jim Breyer, Breyer Capital founder and CEO, join 'Money Movers' to discuss what Sandbox is and the technological edge the company has, why Breyer is so excited about the large quantitative model, and how to think about the opportunity for quantitative AI.

Persons: SandboxAQ's Jack Hidary, Breyer Capital's Jim Breyer Jack Hidary, Jim Breyer, Breyer Organizations: Breyer Capital

☆ Oil prices drop to lowest levels in more than a month
▼ + stars: | 2024-07-23 | by ( Spencer Kimball | ) www.cnbc.com time to read: +1 min

Crude oil futures on Tuesday dropped to the lowest level in more than a month, as the market has largely ignored recent tit-for-tat strikes between Israel and Houthi militants in Yemen. Israel responded with airstrikes against Houthi targets near the Al Hudaydah Port in Yemen over the weekend, hitting oil facilities. "Oil is starting to feel as if it is heading for the doldrums," John Evans, analyst at oil broker PVM, told clients in a note. Wildfires in Alberta, however, poses a potential risk to crude supplies in Canada though production has remained solid so far, according to Goldman. The worst of the wildfire season likely lies ahead, with a third of the wildfires in Alberta burning out of control, threatening 400,000 barrels per day in production, according to the investment bank.

Persons: Goldman Sachs, John Evans, Goldman Organizations: UBS Locations: Stanton , Texas, Israel, Yemen, Tel Aviv, Al Hudaydah Port, Alberta, Canada

☆ Sharks in Brazil test positive for cocaine, say scientists
▼ + stars: | 2024-07-23 | by ( Jack Guy | ) edition.cnn.com time to read: +4 min

CNN —Sharks living off the coast of Brazil have tested positive for cocaine, according to new research, the first time that the drug has been detected in free-ranging sharks. Cocaine levels were around three times higher in muscle tissue than liver tissue, according to the study, while female sharks had higher cocaine concentrations in muscle tissue compared to males. Cocaine consumption has risen massively around the world in recent decades, according to the study. Increased consumption and poor sewage treatment infrastructure has made for increased cocaine levels in the sea, say researchers. Hauser Davis said that it is “very likely” that crustaceans, fish and other animals that the sharks prey on are also contaminated with cocaine.

Persons: Rachel Ann Hauser, Davis, Enrico Mendes Saggioro, Mendes Saggioro, ”, Rachel Ann Hauser Davis, Hauser Davis, “, Pavel Horky Organizations: CNN — Sharks, Oswaldo Cruz Foundation, CNN, Czech University of Life Sciences, Puget Sound Locations: Brazil, Rio de Janeiro, South America, Mexico, Florida, Prague, United Kingdom, Washington

☆ Andy Murray to retire as he says Paris Olympics his 'last ever tennis tournament'
▼ + stars: | 2024-07-23 | by ( ) www.cnbc.com time to read: +2 min

(Photo by Francois Nel/Getty Images)Andy Murray has announced his retirement, saying the Paris Olympics will be his "last ever tennis tournament". The three-time Grand Slam champion, who is the only man to have won two Olympic golds in the sport, made the announcement in a post on X. The 37-year-old memorably ended a long wait for British tennis when he won Wimbledon in 2013, having been beaten in the final the year before in emotional scenes. He repeated the success in 2016 having won his first grand slam at the US Open in 2012. After losing in the Wimbledon doubles a few weeks ago, he said he was ready to call it a day.

Persons: Andy Murray of, Jamie Murray of, Rinky Hijikata, John Peers of, Francois Nel, Andy Murray, Sir Andy, Jamie, Murray, Emma Raducanu, Roger Federer, hasn't, Dan Evans, Roland Garros, He's, Cameron Norrie, Jack Draper, Katie Boulter Organizations: John Peers of Australia, Wimbledon, England Lawn Tennis, Croquet Club, Murray's Olympic, Thursday's, Team GB Locations: ENGLAND, Andy Murray of Great Britain, Jamie Murray of Great Britain, London, England, Paris, Rio

☆ Couple found dead in lifeboat after failed Atlantic crossing
▼ + stars: | 2024-07-22 | by ( Jack Guy | ) edition.cnn.com time to read: +2 min

CNN —A British-Canadian couple who were attempting to sail across the Atlantic have been found dead on an island off the east coast of Canada. The couple left Halifax Harbour, Nova Scotia on June 11 en route to the Azores, a group of Portuguese islands in the mid-Atlantic, around 2,000 miles away. It is not clear why the couple abandoned the Theros and got into a lifeboat. They stayed in touch after Clibbery moved back to Canada and Packwood visited him in Salt Spring Island near Vancouver, where the Theros was docked, in spring 2016. “He took me on my first ever yacht trip and I loved it,” Packwood told The Guardian.

Persons: CNN —, Brett Clibbery, Sarah Packwood, Clibbery’s, James, Packwood, “, ”, ” Clibbery, Clibbery, ” Packwood, “ Brett Organizations: CNN, SV Theros, Royal Canadian Mounted Police, RCMP, Halifax Harbour, Maritime Museum, Facebook, YouTube, Guardian Locations: Canada, , Nova Scotia, Halifax, Halifax Harbour , Nova Scotia, Azores, London, Britain, Salt, Vancouver

Read previewThe results are in for Sam Altman's much-anticipated basic income study, one of the largest of its kind. AdvertisementThe debate over basic incomeThe study was inspired by Altman's belief in the importance of a basic income in the age of AI, which some fear could render millions of jobs obsolete. Related storiesThe idea of a universal basic income has been around for awhile, but rose to prominence as the center of Andrew Yang's 2016 presidential campaign. Other significant figures in the tech industry have since voiced support for some kind of basic income, including Twitter cofounder Jack Dorsey and Tesla CEO Elon Musk. Earlier this year, Altman also floated another kind of basic income plan, which he called a "universal basic compute."

Persons: —, Sam Altman's, Altman, OpenResearch, Elizabeth Rhodes, Cash, Andrew Yang's, Jack Dorsey, Elon Musk, Geoffrey Hinton, Sarah, Cara Organizations: Service, Business, OpenResearch Locations: Texas, Illinois

Donald Trump walks off stage after speaking at a campaign rally on July 20, in Grand Rapids, Michigan. Vance defended his loyalty to the US, after Vice President Kamala Harris said he “will be loyal only to Trump, not to our country.”“There’s some bad news actually, Vice President Kamala Harris, she doesn’t like me,” Vance said in remarks about two hours before Trump took the stage. “Kamala Harris said something to the effect that … I have no loyalty to this country,” he continued. “Well, I don’t know, Kamala, I did serve in the United States Marine Corps and build a business. The only unity we saw today was between Donald Trump, JD Vance, and their Project 2025 agenda,” Biden campaign spokesperson Ammar Moussa said in a statement.

Persons: Donald Trump, Anna Moneymaker, Sen, JD Vance, Vance, Trump’s, “, it’s, Kamala Harris, ” Vance, Trump, “ Kamala Harris, ”, Kamala, Harris, Ronny Jackson, Elon Musk, Musk, “ Elon, ” Trump, Xi Jinping, Xi, who’s, Biden, Joe Biden’s, ” Biden, Ammar Moussa Organizations: Trump, United States Marine Corps, Butler Memorial Hospital, White House, Grand, Wall Street Journal, Democrats Locations: Grand Rapids , Michigan, Ohio, San Francisco, Butler , Pennsylvania

No businessman in China was more successful, famous or rich than Jack Ma, whose magic touch turned companies like Alibaba into international juggernauts. But an investigation by The New York Times and The Wire China found that another Chinese businessman, with deep connections to relatives of China’s political elite, had been secretly investing in Mr. Ma’s companies. Through a network of shell companies and stand-ins, that businessman, Xiao Jianhua, entered into deals in Mr. Ma’s companies over a period of five years, the investigation found. Mr. Xiao, a billionaire, is now in detention serving a 13-year-sentence for bribery and corruption, a high-profile target in President Xi Jinping’s dramatic consolidation of power. Mr. Ma, for his part, has all but retreated from public life, having no formal role in the companies he founded.

Persons: Jack Ma, Xiao Jianhua, Xiao, Xi, Ma, Alibaba, Ma “, Ma’s Organizations: The New York Times, Mr Locations: China

Four years ago, Jack Ma was the embodiment of China’s spectacular economic rise. Already the country’s wealthiest and most famous businessman, he was poised to become one of the richest in the world. The expected initial public offering of Mr. Ma’s fintech company, Ant Group, was projected to surpass the record-shattering launch of his e-commerce giant, Alibaba. At the same time, another wealthy Chinese businessman was awaiting a very different fate. Mr. Xiao had amassed a fortune manipulating markets and cultivating close ties to relatives of top Chinese officials, and he was about to be made an example.

Persons: Jack Ma, Ma’s, Bill Gates, Steve Jobs, Xiao Jianhua, Xiao Organizations: Ant, The New York Times Locations: China

☆ Answering questions you might have about Biden’s decision to suspend his reelection
▼ + stars: | 2024-07-21 | by ( Jack Forrest | Danya Gainor | ) edition.cnn.com time to read: +8 min

In practice, whoever the presidential nominee chooses as their running mate is typically accepted by the delegates. What happens to the money raised for Biden’s reelection? Biden’s reelection efforts had raised a total of $240 million at the end of June. Those funds are split across the DNC, allied committees and Biden’s campaign committee itself. While no US president has been pressured out of a reelection campaign due to concerns over his mental fitness, it is not unprecedented for an incumbent president to abandon his reelection campaign — but it is rare.

Persons: Joe Biden, Kamala Harris, —, Biden, Mike Johnson, Elise Stefanik, Montana Sen, Steve Daines, Harris, ”, Sen, Elizabeth Warren of Massachusetts, Pramila, Delaware Sen, Chris Coons, Roy Cooper, Josh Shapiro, Zachary Wolf, Ethan Cohen, Biden couldn’t, Joe Manchin, CNN’s Jake Tapper, Manchin, Biden’s, he’ll, Charlie Spies, Lyndon B, Johnson, Harry S, CNN’s David Wright, Zachary B, Wolf, Fredreka Schouten, Alex Leeds Matthews Organizations: CNN, Sunday, Democratic, House, GOP, Biden, North Carolina Gov, Pennsylvania, Union, Democratic Party, DNC, Federal, Street, Democratic National Committee Locations: Montana, Washington, Delaware, Tennessee, Chicago, West Virginia, “ State

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