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☆ Catastrophic flooding in Libya leaves thousands dead
▼ + stars: | 2023-09-14 | by ( Kate Sammer | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCatastrophic flooding in Libya leaves thousands deadMassive rainfall from Mediterranean storm Daniel inundated parts of eastern Libya causing widespread destruction in the North African nation. The surging rain caused two dams to fail, sending 23-foot waves of water through the port city of Derna. International rescue efforts are underway as thousands are missing and at least 8,000 are feared dead according to Libyan officials.

Locations: Libya, North, Derna

☆ Photos this week: September 7-14, 2023
▼ + stars: | 2023-09-14 | by ( ) edition.cnn.com time to read: 1 min

At least 5,000 people have died in eastern Libya after heavy rain from Storm Daniel inundated the North African country's coastal region and caused catastrophic flooding. Derna, a city of roughly 100,000 people, was the worst-hit area. The heavy rainfall caused two dams to burst, sending a 7-meter-high (23-foot-high) wave toward the city that washed away entire neighborhoods. More than 30,000 people have been displaced, the United Nations' International Organization for Migration in Libya said on Wednesday. Here are some of the stories that made headlines over the past week, as well as some photos that caught our eye.

Persons: Storm Daniel Organizations: Local, United Nations, International Organization for Migration Locations: Libya, Storm

☆ Morgues overwhelmed in Libya as rescuers search for thousands missing after flood
▼ + stars: | 2023-09-13 | by ( Rhea Mogul | ) edition.cnn.com time to read: +6 min

A satellite photo shows flooding in Derna, Libya, on Tuesday, Sept. 12, 2023 via Planet Labs PBC. Planet Labs PBC/APA satellite photo shows Derna on Sept. 2, 2023, before flooding, via Planet Labs PBC. A boy pulls a suitcase past debris in a flash-flood damaged area in Derna, eastern Libya, on September 11, 2023. A damaged vehicle is stuck debris after the floods caused by the Storm Daniel in Derna, Libya on September 12, 2023. Toys are seen in a flash flood damaged shop in Derna, eastern Libya, on September 11, 2023.

Persons: “, ”, Adel Juma, Storm Daniel, I’m, Muammar Gaddafi, Abdulhamid Dbeibeh, Khalifa Haftar, Osama Hamad, Daniel, Derna, Osama Aly, Abdullah Mohammed Bonja, Ciaran Donelly, IRC’s, Recep Tayyip Erdogan, Richard Norland, Zayed Al Nahyan Organizations: CNN, Planet Labs PBC, AP, Getty, Libya, UN, of National Unity, GNU, Libyan National Army, Ambulance, Storm, Anadolu Agency, Rescue, Emergency Management Authority, Anadoulu Agency, Civil Protection Department, United Arab Emirates Locations: Libya, Derna, Palestinian, AFP, Tripoli, Benghazi, North Africa, Greece, Europe, Italy, United States

☆ Photos: Catastrophic flooding devastates eastern Libya
▼ + stars: | 2023-09-13 | by ( ) edition.cnn.com time to read: 1 min

At least 5,000 people have died in eastern Libya after heavy rain from Storm Daniel inundated the North African country's coastal region and caused catastrophic flooding. Thousands more are feared missing. Major floods in the hard-hit northeastern city of Derna resulted in entire neighborhoods being "washed out into the sea," said a spokesman of the Libyan National Army. More than 30,000 people have been displaced, according to the United Nations' International Organization for Migration in Libya. Emergency responders are searching through debris for survivors as morgues fill with bodies.

Persons: Storm Daniel Organizations: Libyan National Army, United Nations, International Organization for Migration Locations: Libya, Storm, Derna

☆ Greek rescue teams move into worst-hit flood villages
▼ + stars: | 2023-09-09 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Alexandros Avramidis Acquire Licensing RightsATHENS, Sept 9 (Reuters) - Rescue teams took people out of floodwaters in inflatable boats and in bulldozers on Saturday as they moved into villages hit hardest by a sweeping rainstorm that killed at least 10 people in central Greece this week. Authorities, who have struggled to evacuate people from flooded areas, raised the death toll to 10 people on Friday afternoon. On Saturday, rescue teams were moving into villages near the city of Larissa and close to the River Pineios. Extreme weather events have struck across the globe in recent weeks, with floods in Scandinavia, southeast Europe and Hong Kong. Reporting by Stamos Prousalis, Renee Maltezou, Lefteris Papadimas and Michele Kambas Editing by Frances KerryOur Standards: The Thomson Reuters Trust Principles.

Persons: Storm Daniel, Alexandros Avramidis, Stamos Prousalis, Renee Maltezou, Lefteris Papadimas, Michele Kambas, Frances Kerry Organizations: REUTERS, Rights, pummelled, Authorities, Thomson Locations: Greece, Palamas, pummelled Greece, Larissa, Thessaly, Karditsa, Athens, Thessaloniki, Scandinavia, Europe, Hong Kong, India

☆ UAW union embraces social media as labor talks toughen ahead of deadline
▼ + stars: | 2023-09-09 | by ( Bianca Flowers | Thomson Reuters | Bianca Flowers Is An Award-Winning Multimedia Journalist Based In Chicago Where She Reports On The Backbone Of The U.S. Labor Market. She Covers Agriculture | ) www.reuters.com time to read: +4 min

United Auto Workers President Shawn Fain greets UAW autoworkers, at the Stellantis Sterling Heights Assembly Plant, to mark the beginning of contract negotiations in Sterling Heights, Michigan, U.S. July 12, 2023. REUTERS/Rebecca Cook/File Photo Acquire Licensing RightsSept 9 (Reuters) - The United Auto Workers union is leveraging the power of social media to attract public support in demanding substantial wage increases for hourly workers as a deadline looms with the Detroit Three automakers. On Friday, he said the UAW was prepared to strike all three companies if no deals are reached. "What we've seen is the new president of the UAW taking an offer from the automakers and throwing it in a wastebasket on social media. This week, the UAW released a video in an effort to save a shuttered Stellantis plant in the northern Illinois town of Belvidere.

Persons: Shawn Fain, Rebecca Cook, Shawn Fain hasn't, Daniel Ives, Fain, He's, Harley Shaiken, Brian Rothenberg, Tesla, there's, Matt Frantzen, he's, Bianca Flowers, Leslie Adler Organizations: United Auto Workers, UAW, Sterling Heights Assembly, REUTERS, Detroit Three, Motors, Ford, Facebook, Twitter, University of California, Auto, Thomson Locations: Sterling Heights, Sterling Heights , Michigan, U.S, Berkeley, Illinois, Belvidere, Stellantis, Chicago

☆ Apple lost over $200 billion in market value in two days. Here's where Jim Cramer stands on the stock
▼ + stars: | 2023-09-07 | by ( Morgan Chittum | ) www.cnbc.com time to read: +5 min

Jim Cramer said Thursday he stands by the Club's "own it, don't trade it" designation on Apple, which was on a two-session losing streak that wiped out more than $200 billion in market value in the stock. "If I really felt like a disaster was coming, I would suspend" our mantra of "own it, don't trade it" on Apple stock, Jim Cramer said during the Club's Morning Meeting on Thursday. Apple is also extending efforts into emerging economies such as India, which like China has roughly 1.4 billion people. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio.

Persons: Jim Cramer, shouldn't, Jim, Gina Raimondo, isn't, Apple, Wamsi Mohan, Daniel Ives, Ives, Jim Cramer's Organizations: Apple, Big Tech, Street Journal, Huawei, U.S . Commerce, Bloomberg, Bank of America, Wedbush Securities, U.S, The, CNBC, S3studio, Getty Locations: China, America, Beijing, Americas, Europe, India, Mong Kok District, Hong Kong

REUTERS/Kostas Mantziaris Acquire Licensing RightsATHENS, Sept 6 (Reuters) - At least two people died and three were missing on Wednesday after torrential rain flooded homes and businesses and destroyed infrastructure in central Greece, the fire brigade said. A Reuters witness said that the river near the nursing home had swallowed the road and flooded a train station in Volos, disrupting train traffic. Greece has said the weather was the most extreme in terms of the amount of rainfall since records have been kept in the country. Police on Wednesday issued traffic warnings for the cities of Trikala and Karditsa as the rainstorm was expected to intensify again later on Wednesday. In northwest Turkey, at least five people were killed after heavy rains triggered flash floods, Turkish state broadcaster TRT Haber said on Wednesday.

Persons: Daniel, Kostas Mantziaris, Storm Daniel, Haber, Lefteris Papadimas, Angeliki Koutantou, William Maclean Organizations: REUTERS, Rights, Reuters, Police, Thomson Locations: Nea Lefki, Larissa, Greece, Volos, Trikala, Karditsa, Turkey

☆ Torrential rain follows summer wildfires in Greece
▼ + stars: | 2023-09-06 | by ( ) www.reuters.com time to read: 1 min

[18/29]Debris is pilled up at the premises of a factory, in an area flooded due to the impact of storm Daniel in the village of Nea Lefki, near Larissa, Greece, September 6. REUTERS/Kostas MantziarisLARISSA, GREECE

Persons: Daniel, Kostas Mantziaris LARISSA Organizations: REUTERS Locations: Nea Lefki, Larissa, Greece

☆ After layoffs, cost cuts and a price increase, Salesforce has exceeded a 30% profit margin — exactly what its activist investors wanted to see
▼ + stars: | 2023-08-30 | by ( Ellen Thomas | ) www.businessinsider.com time to read: +4 min

Salesforce reported a 31.6% profit margin on Wednesday for its Q2 FY '24, raising annual guidance to 30%. Activist investor Starboard Value last year called on Salesforce to up its profit margins. A leaked plan said Salesforce aimed to deliver above a 30% margin by fiscal 2025. That plan outlined a goal to reach above 30% profit margins in fiscal 2025. Starboard noted that Salesforce should have profit margins of at least 30% — exactly what the company delivered Wednesday.

Persons: Salesforce, Marc Benioff, Benioff, It's, it's, Wedbush's Daniel Ives, Ives, Ellen Thomas Organizations: Morning, Oracle, Microsoft, ethomas Locations: Salesforce

☆ Nvidia's blowout results are exciting analysts so much, one of them even said the AI chipmaker will be 'most important company to civilization'
▼ + stars: | 2023-08-24 | by ( Huileng Tan | ) www.businessinsider.com time to read: +2 min

AI chipmaker Nvidia posted record second-quarter revenues of $13.51 billion. One jubilant analyst made a bold call: He thinks Nvidia will be the "most important company to civilization" in the next decade. Even Daniel Ives, an analyst at Wedbush Securities, gushed in a tweet: "It's all about AI demand and use cases. "AI needs specialized chips to run on, and trillions worth of processing chips will be up for replacement through this decade." Dessai added there are other opportunities for AI chips as they eventually make their way into other products including smartphones, laptops, cars, and medical devices.

Persons: Angelo Zino, Daniel Ives, Dessai Organizations: Nvidia, Service, Yahoo Finance, Wedbush Securities, gushed, Tejas, Global Locations: Wall, Silicon

MOSCOW, July 12 (Reuters) - Russia is decaying in a potent brew of absurdity and repression that is comparable to the Leonid Brezhnev-era of the Soviet Union, Oleg Orlov, one of the Russia's most respected human rights campaigners, told Reuters. One of the leaders of the Memorial rights group, which won a share of the Nobel Peace Prize in 2022 a year after being banned and dissolved in Russia, Orlov stood by his articles and cast Russia as a country gripped by the demons of history. "Russia is going backwards," Orlov told Reuters in his Moscow flat over a glass of the traditional fermented kvas. "For Putin, war is his political technology," Orlov said. Current Russian levels of repression, he said, could be compared to the Brezhnev era of the Soviet Union after the arrest of writers Andrei Sinyavsky and Yuli Daniel in 1965.

Persons: Leonid Brezhnev, Oleg Orlov, Orlov, Wagner, Russia, Vladimir Putin's, Putin, Brezhnev, Andrei Sinyavsky, Yuli Daniel, unpatriotic, Aleksandr Solzhenitsyn's, William Faulkner, Fyodor Dostoevsky's, Tatiana, Guy Faulconbridge, Filipp Lebedev, Nick Macfie Organizations: Reuters, Memorial, Solidarity, West, Thomson Locations: MOSCOW, Russia, Soviet Union, Moscow, Ukraine, Soviet, Afghanistan, Chechen, Russian, Tbilisi

The Rivian story is "finally" turning around after several difficult quarters, according to Wedbush. The firm maintained its outperform rating on shares while raising its price target to $30 from $25. Ives said the company is "seeing light at the end of the tunnel" after several quarters with overhangs including production and supplier issues. "We continue to strongly believe in the Rivian long-term story … making this a table pounder at current levels," said Ives. Shares are up 17.3% in 2023, but remain in the red by more than 31% over the last 12 months.

Persons: Daniel Ives, Ives, Rivian, — CNBC's Michael Bloom Organizations: Rivian Locations: Europe, U.S

☆ Ben and Bryan Shelton, Son and Father, Hit the Road as Player and Coach
▼ + stars: | 2023-07-03 | by ( Matthew Futterman | Jane Stockdale | ) www.nytimes.com time to read: +1 min

Last year, when Ben Shelton decided to leave college and turn professional, he wondered aloud to his father, Bryan, a former player on the men’s tennis tour, if they ought to embark on a venture together. Sorry, Bryan Shelton told his son, he already had a full-time job coaching at the University of Florida. Bryan Shelton handed the reins to Dean Goldfine, a highly respected coach who had previously worked with the former world No. Division I tennis tournament, the Sheltons announced that Ben had a new/old full-time coach. “It was the right time,” Bryan Shelton said.

Persons: Ben Shelton, Bryan, Bryan Shelton, Dean Goldfine, Andy Roddick, Ben, Florida’s, ” Bryan Shelton, Shelton, Taro Daniel Organizations: University of Florida, Gators, Wimbledon Locations: Gainesville, Fla

☆ The credit crunch is getting worse and bankruptcies are on the rise
▼ + stars: | 2023-07-03 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +8 min

David Tesher: Before we were forecasting a short and shallow recession, but we no longer think there’s going to be a recession. Hard decisions are being made, and that’s going to feed back into corporate growth prospects. As economic conditions slow, credit is becoming tighter and companies are defaulting at a faster pace than they have. So yes, some corporations are distressed, but this isn’t something affecting the entire market, which is what you’d associate with a broad credit crunch. Big Tech is back with a vengeanceLast year was rough for tech companies: Tech stocks fell more than 30% in 2022, while the overall market dropped 20%.

Persons: Banks, Bell, David Tesher, we’re, We’re, There’s, reevaluation, it’s, Meta, Wedbush’s Daniel Ives, Liz Ann Sonders, Charles Schwab, ”, Megan Horneman, Matt Egan, John LaForge Organizations: CNN Business, Bell, CNN, P, Big Tech, Tech, Apple, Nvidia, Microsoft, Verdence Capital Advisors, Nasdaq, Dow Jones, AAA, That’s, US Energy Information Administration, Wells, Investment Institute

☆ PIMCO CIO says preparing for 'harder landing' for global economy, Financial Times reports
▼ + stars: | 2023-07-02 | by ( ) www.reuters.com time to read: 1 min

July 2 (Reuters) - Pacific Investment Management Co (PIMCO) is preparing for a "harder landing" while top central bank chiefs prepare to continue their campaign of interest rate rises, Daniel Ivascyn, chief investment officer at the U.S. bond giant, told the Financial Times in an interview published on Sunday. "The more tightening that people feel motivated to do, the more uncertainty around these lags and the greater risk to more extreme economic outlooks," Ivascyn told the FT, noting that when rates have risen in the past, a lag of five or six quarters for the impact to be felt has been "the norm". The market is "too confident in the quality of central bank decisions", he told the FT. Reporting by Jahnavi Nidumolu in Bengaluru; Editing by Muralikumar AnantharamanOur Standards: The Thomson Reuters Trust Principles.

Persons: Daniel Ivascyn, Ivascyn, Jahnavi, Muralikumar Organizations: Pacific Investment Management, Financial Times, Thomson Locations: Bengaluru

☆ If you're hoping interest rates will fall anytime soon, you're out of luck, says $1.8 trillion financial titan
▼ + stars: | 2023-07-02 | by ( Ryan Hogg | ) www.businessinsider.com time to read: +2 min

Interest rates are unlikely to fall soon, said an executive at a firm with assets of $1.8 trillion. Pimco's Daniel Ivascyn told the Financial Times he doubted central banks' ability to tame inflation. Not so fast, says one mammoth investor who believes interest rate cuts are still some way off – while a "hard landing" very much remains a possibility. Pimco manages assets worth $1.8 trillion – a bit smaller than the size of the entire UK economy. "We have a real legitimate inflation problem," Ivascyn told the FT, adding it would be difficult for central banks to cut their target rate until inflation is much closer to the 2% target.

Persons: Pimco's Daniel Ivascyn, —, Daniel Ivascyn, Ivascyn Organizations: Financial, Service, Financial Times, Federal Reserve, Fed

☆ We believe Apple hits $4 trillion market cap by 2025, says Wedbush Securities' Daniel Ives
▼ + stars: | 2023-06-30 | 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 EmailWe believe Apple hits $4 trillion market cap by 2025, says Wedbush Securities' Daniel IvesDaniel Ives, Wedbush Securities managing director and senior equity analyst, join 'Squawk Box' to discuss Apple's recent market rally as it crosses the $3 trillion market cap, what's next for the company, and more.

Persons: Daniel Ives Daniel Ives Organizations: Wedbush Securities

☆ Carvana provides upbeat second-quarter outlook, shares jump
▼ + stars: | 2023-06-08 | by ( ) www.reuters.com time to read: +1 min

Companies Carvana Co FollowJune 8 (Reuters) - Used-cars retailer Carvana Co on Thursday forecast a second-quarter core profit above $50 million as its cost-cutting initiatives helped drive down expenses, sending the company's shares 20% higher in premarket trade. The debt-laden company has been trimming its bloated inventory and slashing advertising expenses to help move closer to profitability and attain positive free cash flow. Carvana, known for its car-vending machines, said it sold or securitized loans worth about $2 billion, compared with $1.3 billion in loans that were sold or securitized as of May 4. The Tempe, Arizona-based company said in May it expected to post a profit in the second quarter, but had not provided any further details. Reporting by Nathan Gomes in Bengaluru; Editing by Devika Syamnath and Shounak DasguptaOur Standards: The Thomson Reuters Trust Principles.

Persons: Stephens, Daniel Imbro, Carvana, William Blair, Nathan Gomes, Devika Syamnath, Shounak Organizations: Carvana, Thomson Locations: Tempe , Arizona, Bengaluru

☆ Is Alphabet or Nvidia the better A.I bet? Wedbush Securities' Dan Ives gives his take
▼ + stars: | 2023-06-07 | 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 EmailIs Alphabet or Nvidia the better A.I bet? Wedbush Securities' Dan Ives gives his takeDaniel Ives, managing director and senior equity research analyst at Wedbush Securities, discusses the performance of Alphabet and Nvidia, and weighs in on which is the better bet on AI.

Persons: Dan Ives, Daniel Ives Organizations: Wedbush Securities, Nvidia

☆ Watch: Senate Passes Bill to Suspend the Debt Ceiling, Avoid Default
▼ + stars: | 2023-06-02 | by ( ) www.wsj.com time to read: 1 min

Big Tech Relies on Outsourcing. Facebook content moderators hired by a third-party contractor in Kenya are suing over working conditions. The contractor involved denies the allegations and Facebook parent Meta is arguing it shouldn’t be involved in the lawsuit. The outcome of this case and two others could have a profound impact on big tech and the industry’s outsourced workforce. WSJ South Africa-based business reporter Alexandra Wexler joins host Zoe Thomas to explain.

Persons: shouldn’t, Alexandra Wexler, Zoe Thomas, Daniel Irungu Organizations: Tech, Facebook, Meta, WSJ Locations: Africa, Kenya

☆ Satellite Images Reveal Russian Defenses for Ukraine Counteroffensive
▼ + stars: | 2023-06-02 | by ( ) www.wsj.com time to read: 1 min

Persons: shouldn’t, Alexandra Wexler, Zoe Thomas, Daniel Irungu Organizations: Tech, Facebook, Meta, WSJ Locations: Africa, Kenya

☆ Watch: Biden Falls at U.S. Air Force Academy Commencement
▼ + stars: | 2023-06-01 | by ( ) www.wsj.com time to read: 1 min

Persons: shouldn’t, Alexandra Wexler, Zoe Thomas, Daniel Irungu Organizations: Tech, Facebook, Meta, WSJ Locations: Africa, Kenya

☆ Alcaraz sees off Daniel to reach French Open third round
▼ + stars: | 2023-05-31 | by ( Shrivathsa Sridhar | ) www.reuters.com time to read: +2 min

[1/5] Tennis - French Open - Roland Garros, Paris, France - May 31, 2023 Spain's Carlos Alcaraz in action during his second round match against Japan's Taro Daniel REUTERS/Lisi NiesnerPARIS, May 31 (Reuters) - Carlos Alcaraz came through a tricky early test at the French Open with flying colours, as the world number one sealed a 6-1 3-6 6-1 6-2 victory over Japan's Taro Daniel in windy conditions on Wednesday to reach the third round. Daniel pounced early in the next to grab a 3-0 lead before Alcaraz got on the board. He continued to batter the suddenly error-prone Spaniard with relentless hitting from the baseline before levelling the match. I try to think about myself, about my game, and try to put it into the match. All I can say is tomorrow is a day off for me and we're gonna think about the match tomorrow with my team."

Persons: Roland Garros, Spain's Carlos Alcaraz, Japan's Taro Daniel REUTERS, Lisi Niesner PARIS, Carlos Alcaraz, Japan's Taro Daniel, Alcaraz, Flavio Cobolli, Daniel, Daniel pounced, Philippe Chatrier, I'm, Denis Shapovalov, I've, Shrivathsa Sridhar, Toby Davis, Ed Osmond Organizations: Thomson Locations: Paris, France, Vienna, Canadian, Barcelona

☆ For YouTuber multi-millionaires Rhett & Link, venture capital is the future of creators
▼ + stars: | 2023-05-20 | by ( Zach Vallese | ) www.cnbc.com time to read: +6 min

The pair chose to reinvest their earnings, and lessons from their experiences, in burgeoning creators through an accelerator fund. "The right creators are good and investments," said McLaughlin, who is co-CEO of Mythical Entertainment. They both have a vision to grow their business and to lead their business," McLaughlin said. VC firm Slow Ventures has also launched a creator fund and has taken a keen interest in the business of those in the creator economy. Providing creators like Mogilko with capital gives them the ability to grow quickly at a time when they can leverage their existing social media virality.

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