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Famously worn by Beyoncé and Jennifer Aniston, the triangle top was inherently Brat two decades before “Brat girl summer” was officially coined. The triangle spawned offshoots too — its sister, the scarf top, was suggestively tied into a bra by Christina Aguilera. Gigi Hadid, on the red (and yellow) "Deadpool and Wolverine" carpet with friend Blake Lively, who wore a red catsuit with lace embellishment by Versace. Emily Ratajowski, Bella Hadid and Sydney Sweeney have all worn variations on the style, with Kylie Jenner repping the same Miu Miu top and skirt set as Hadid’s in black last month. Though triangle tops are meant to seem easy and breezy, they can be a nuisance for small and large breasts alike; they’re also impractical anywhere there’s wind or an air conditioner.
Persons: Gigi Hadid, Beyoncé, Jennifer Aniston, , suggestively, Christina Aguilera, Blake Lively, Versace, Erik Pendzich, Hadid, Miu, Emily Ratajowski, Bella Hadid, Sydney Sweeney, Kylie Jenner repping, Miu Miu, Kendall Jenner, Ryan Reynolds, Hugh Jackman, Lively, Andrew H, Walker, Shutterstock, Lively’s, , Reynolds, Jackman Organizations: CNN Locations: New York, Milan, lacy, Hadid
How the hedge fund superstar went extinct
  + stars: | 2024-07-23 | by ( Dan Defrancesco | ) www.businessinsider.com   time to read: +7 min
But for now, we're examining how the hedge fund superstar has gone extinct . The big storySo long, superstarGetty Images; Alyssa Powell/BIWhere have all the hedge fund superstars gone? AdvertisementIn years past, even rubbing shoulders with a legendary hedge fund manager was enough for aspiring fund managers to raise capital. Meanwhile, the hedge fund industry has also evolved. Aaron Weiner, a 31-year-old from Coatue, got a multibillion-dollar check from Millennium for his to-be-launched hedge fund .
Persons: , Kamala Harris, Harris, Alyssa Powell, Insider's Linette Lopez, Julian Robertson, Griffin's, Izzy Englander's, Goldman Sachs, Jared Siskin, Bobby Jain, it's, Aaron Weiner, Jonathan Xiong's, Maja Hitij, Carl Godfrey, Apple, Sam Altman's, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, Annie Smith, Amanda Yen Organizations: Service, Democratic, Democratic Party Convention, Business, Getty, Management, Goldman, Madison, Park Conservancy, Citadel, Credit Suisse, Jain, ExodusPoint, Investment Partners, Blackstone, Elon Musk's, Big Tech, Bank of America, BI Founders, Forge, Apple, Google, General Motors Locations: Venture, Wall, Park, Coatue, Miami, London, New York
Take activist hedge funds, which buy up a percentage of a company's stock (or an asset) and then use their weight to push for operational changes. Or there would be a fun, splashy war between the hedge fund and the C-suite. Hedge funds rely on outperforming the market when times are hard and it's easier to find pockets of outperformance and exploit them. Of course, hedge funds are having a hard time coming up with a crew because the clients have changed too. Advertisement"At the end of the 1960s, the bubble burst, and everyone thought, 'That's the end of hedge funds,'" Mallaby said.
Persons: David Tepper, Anthony Scaramucci, Lenny Kravitz, lanyards, Bobby Jain, Goldman Sachs, Denise Shull, Charles Lemonides, ValueWorks, Saba Capital's Boaz Weinstein, BlackRock, Nelson Peltz, Bob Iger, Paul Singer's Elliott, , Elliott, Meir Statman, Statman, I'm, That's, Paris, Marc Jacobs, they've, they're, Sebastian Mallaby, Julian Robertson, Julian, Mallaby, Lemonides, wonky quants, Keith Gill, David Einhorn, Andrew Left, bro Organizations: Appaloosa Management, Carolina Panthers, Bellagio, Millennium Management, Credit Suisse, Jain, Disney, Paul Singer's Elliott Management, Santa Clara University, Behavioral Finance, New, Tiger Management, Met, rockstar, Ferrari, Greenlight, Harvard, Princeton grad, Research Locations: Vegas , New York City, Singapore, Argentine
The two Texas-based creators met up to talk about potentially producing content together given their similar fashion niches, according to a lawsuit filed by Gifford. Lawyers told BI that if Gifford wins any or all of the counts, the case could set a new precedent for the creator economy. It could drastically change how influencers create content online and protect their rights. She said this case could spark a fire in the creator community regardless of whether Gifford wins or loses. "The audience online is really smart though, and they'll figure it who the original creator is eventually," Puri said.
Persons: , Sydney Nicole Gifford, Alyssa Sheil, she'd, Gifford, Sheil, She's, Kameron Buckner, there's, Buckner, I've, that's, Taylor Tieman, — Gifford —, Tieman, Tiffany Ferris, Haynes Boone, Ferris, Roe, Wade, Brown, I'm, Asmita, Puri Organizations: Service, Business, Meta, Copyright, Business Insider, of Education, Federal Trade Commission Locations: Texas, TikTok, Asmita Puri
A massive IT outage on Friday caused widespread disruption across different sectors worldwide. An expert said the outage, linked to a CrowdStrike update, mirrors Y2K fears that never came true. Air travel, banks, and 911 lines are among some of the many services affected by the global outage. Y2K passed with barely a blip, but over two decades later, one web security consultant says those fears have finally been realized, thanks to a massive IT outage on Friday. "This is basically what we were all worried about with Y2K, except it's actually happened this time," Troy Hunt, an Australian web security expert, said in an X post.
Persons: , Troy Hunt Organizations: Service, Business Locations: Australian
While businesses scramble to deal with the consequences of the hit, social media users are responding in the best way they know how: memes. 'The blue screen of death'Many PC users logged on to their computers on Friday to be met with Window's so-called blue screen of death. Attached is a photo of five laptops on an office desk, all displaying the "blue screen of death." Advertisement"Crowdstrike is accomplishing what we thought Y2K would be, it's quite impressive," one user posted on X. AdvertisementSocial media users have been quick to point out the irony of how CrowdStrike's software, which is meant to prevent businesses from being brought down, has ended up accidentally causing so much chaos.
Persons: , Window's Organizations: Service, Microsoft, Business Locations: Las Vegas
Big-name quants had a strong close to the first half. Managers such as Two Sigma and Renaissance Technologies had strong returns in June. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . Shaw, Renaissance Technologies, and Two Sigma had strong second-quarter closes, bringing year-to-date returns in some funds above those of firms like Citadel and Millennium. This story is available exclusively to Business Insider subscribers.
Persons: quants, , Shaw Organizations: Sigma, Renaissance Technologies, Service, Citadel, Business Locations: Shaw's Valence, D.E
Literature has always reflected society, and as the Book Review’s survey “100 Best Books of the 21st Century” reveals, many titles on the list are intertwined with major events and trends of the young millennium. With that in mind, this beefy quiz — a group effort by several members of the Book Review’s staff — challenges you to show how closely you’ve been paying attention to books, history and pop culture the past few decades. All the questions are multiple choice, so tap or click your way down the quiz. And when you get to the end and collect your score, you'll get a list of links for related reading and other digital ephemera. Are you ready, Player One?
Persons: , you'll
A long friendship between two girls in a poor neighborhood in Naples, Italy. The exodus of nearly six million Black Americans from South to North. A series of unsolved murders in a Mexican border town. The best of the best, Nos. Most are historical novels or narrative histories, as if readers, weary of the vacuity and smash-and-grab belligerence that dominate much of American political and social discourse, desired either to escape or to gaze backward, to better understand how we arrived here.
Persons: Thomas Cromwell, E.M . Forster Organizations: Underground Railroad Locations: Naples, Italy, South, Tudor England, Mexican
Read previewBalyasny Asset Management has cut back the portfolio of its Asia equities head, but not because of poor performance. This story is available exclusively to Business Insider subscribers. Related storiesBalyasny, the $20 billion multistrategy firm based in Chicago, parted ways with its global equities head, Jeff Runnfeldt, last October. AdvertisementBalyasny, the founder, has been running the equities unit since Runnfeldt's departure, adding talent — such as Point72's Peter Goodwin — and reviewing existing books. The firm has made 5.5% through the first half of the year, Business Insider recently reported, trailing peers like Citadel, Point72, and Millennium.
Persons: , Archana Parekh, Dmitry Balyasny, Parekh, Jeff Runnfeldt, Runnfeldt, Peter Goodwin —, Andrew O'Connor, Weiss, David Lohman, Marco Minoli, Anil Gondi, Balyasny, Stephen Schurr, She's, Will Brant, Robert Tau Organizations: Service, Management, Balyasny, Business, Fortress Investment, Citadel, Walleye, Bloomberg Locations: Asia, Chicago, Schonfeld, LMR, — Singapore, Hong Kong, Tokyo, Balyasny's Hong Kong, Point72
Read previewDespite its French headquarters, Capital Fund Management has long been connected to the US. Advertisement"There's no way around the US" as a quant fund, he explained, which use a vast amount of data and historical trends to inform computer-driven investment strategies. Alternative managers have turned to the private wealth channel for capital increasingly in recent years, mostly driven by large private equity firms like Blackstone, Apollo, and KKR. Tiger cubs like Tiger Global and Coatue have had long-standing relationships with JPMorgan's private wealth unit. Quant funds operate in a similar fashion, he said, and the firm thinks this can be translated to a broader audience than just longtime hedge-fund allocators.
Persons: , Philippe Jordan, Jordan, Stifel, Blackstone, Bobby Jain's, Goldman Sachs, Morgan Stanley, there's Organizations: Service, Capital Fund Management, Business, CFM, Stratus, Apollo, KKR, Products, Abu, Abu Dhabi Investment Authority, UBS, HSBC, Bloomberg Locations: New York, Chicago, London, America, Paris, Louis, Abu Dhabi
Read previewThere is perhaps no better example of the hedge fund industry's maturation than Brevan Howard. The $35 billion firm has changed considerably since 60-year-old Alan Howard stepped back from running its day-to-day operations in 2019. Now, Howard — the firm's majority owner — no longer manages money at Brevan. The firm's two biggest funds — the long-running, $11.9 billion Master Fund and the younger, $12.2 billion Alpha Fund — each manage more money now than the entire firm did five years ago. Advertisement"The real challenge is keeping the trading talent," said Nagi Kawkabani, a former Brevan Howard co-CEO told Institutional Investor in 2019.
Persons: , Brevan Howard, Alan Howard, Howard, Howard —, Rishi Shah, Fash, Minal Bathwal, Trifon Natsis, Aron Landry, James Vernon, Jean, Philippe Blochet, Chris Rokos —, Natsis, Landry, Brevan, Nagi Kawkabani, Shah, Shaw, He's, he's Organizations: Service, Business, Fund, Alpha, Credit Suisse, Alpha Fund, Citadel, Bloomberg, Investor, United Arab, Winton Group Locations: Brevan, Ville, Natsis, Abu Dhabi, United Arab Emirates
Stephane De Sakutin/AFP/Getty Images Merchandise featuring Beijing mascot Bing Dwen Dwen, the 2022 Winter Olympics mascot, has been extremely popular. MARTIN BERNETTI/AFP/AFP via Getty Images Rio 2016 Olympic mascot Vinicius was selected four years before the Games kicked off. Rudi Blaha/AP Syd the platypus, Millie the echidna and Olly the kookaburra, helped represent the Sydney 2000 Olympic Games. Amicar de Leon/AP The Albertville Olympic Games in 1992 was cheered on by a star-shaped gnome-looking character. International Olympic Committee In pictures: Olympic Mascot History Prev NextTo find a worthy representative, each host country will typically organize a submission call-out or contest.
Persons: snowmen, Aline Lafargue, , Lafargue, Stephane De Sakutin, Bing Dwen Dwen, Lintao Zhang, Maja Hitij, MARTIN BERNETTI, Vinicius, Alex Ferro, Andrej Isakovic, Mo Farah, Adrian Dennis, Jeff Vinnick, Amy Sancetta, Michael Sohn, Rudi Blaha, Syd, Olly, Claro, Eric Draper, Izzy Whatizit, Ross Kinnaird, Michel Euler, Amicar de Leon, Nicolas Le Corre, David Cannon, Sam, Eagle, Tony Duffy, Howdy, Dieter Endlicher, Misha, Armin Weigel, AP Shuss, Iris, , Millie Organizations: CNN, Olympic Games, International Olympic Committee, Grenoble Winter, Getty, Tokyo, Games, Reuters, Sochi, Getty Images Beijing, Winter Games, Sydney, Lillehammer Games, Albertville Olympic, Disney, International Olympic, Moscow's, AP, Dachshund, Olympics, Olympic, International, Sochi Winter Games, Angeles Summer, London Games, Soyuz Locations: France, Paris, AFP, Beijing, Vancouver, Canada, China, Turin, Italy, Athens, Salt Lake, Snowbasin , Utah, Claro Cortes, Japan, EMPICS, Barcelona, Barcelona's Port, South Korea, Sarajevo's Yugoslavia, Calgary , Alberta, Lake Placid, Munich, Innsbruck, Kitzbuhel, Austria, Algonquin, Russia, Sydney, Australia
One king has been barricaded in the palace, protected from potential usurpers by hundreds of subjects armed with sticks and machetes. Another king, evicted from the same palace in May, is living in an annex down the road, dispatching lawyers to courthouses in an attempt to regain the throne. The battle unfolding for the emirate of Kano — one of West Africa’s oldest and most revered kingdoms — is not just a struggle for an ancient throne, but also part of a wider contest for control over the most populous state in Africa’s most populous country. The emirs of Kano once had absolute power, ruling over their subjects from the intricately decorated palace in the city of Kano, an ancient commercial hub just south of the Sahara.
Persons: Kano —, Kano Locations: Kano, West Africa’s, Africa’s
After adding Belarus, it will boast 10 members, representing more than 40% of the world’s population and roughly a quarter of the global economy. Growing ambitionsAs the SCO grows in international visibility and economic weight, it has also broadened in geopolitical ambitions. Putin speaks to Xi at the SCO summit two years ago in Samarkand, Uzbekistan. But the Belarus membership also creates big question marks that will hang over the organization, Gill said. After the summit in Astana, China is due to take up the rotating presidency of the SCO for a year.
Persons: Xi Jinping, Vladimir Putin, Narendra Modi, Moscow’s, , , Eva Seiwert, Seiwert, Putin, Xi, Sergei Bobylev, Bates Gill, Gill, , ” Gill, Modi, they’re Organizations: Hong Kong CNN —, Shanghai Cooperation Organization, Indian, SCO, Union, Mercator Institute for China Studies, , Putin, AP, National Bureau of Asian Research, , Central, Modi, Astana –, Kremlin, Central Asia, NATO, European Union, Seven Locations: Hong Kong, China, Russia, Russian, Ukraine, Belarus, Astana, Kazakhstan, Beijing, Moscow, United States, Iran, Kyrgyzstan, Tajikistan, Uzbekistan, India, Pakistan, Afghanistan, Mongolia, Myanmar, Turkey, Berlin, , Eurasia, Samarkand, Central Asia, New Delhi, Soviet, Xi’an
In today's big story, we're looking at President Joe Biden showing no signs of giving up his reelection campaign while former President Donald Trump secured a win from the Supreme Court . AdvertisementBiden's campaign has been in full-blown crisis mode after the president's disastrous debate against former President Donald Trump last week. AdvertisementMeanwhile, Trump secured a big win in his immunity case . The Supreme Court ruled that former presidents don't get absolute immunity from criminal charges related to actions under the scope of the presidency, but they do get some. 3 things in techStefani Reynolds/BloombergBig Tech gets a big win from the Supreme Court.
Persons: , Joe Biden, Donald Trump, he's, Biden, Allison Joyce, Getty, Tyler Le, he'd, it'd, John L, Dorman, Biden's, Manuel Balce Ceneta, Jacquelyn Martin, Kamala Harris, Gavin Newsom, Gretchen Whitmer, Harris, isn't, Trump, don't, Justice Sonia Sotomayor, Alyssa Powell, David Kelly, Jonathan Xiong, Blackstone, Keith Lerner, Truist, Stefani Reynolds, OpenAI, It's, Gen Zers, Kevin Costner's, Kevin Costner, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, Annie Smith, Amanda Yen Organizations: Service, Michelin, Business, The New York Times, Biden, Democrats, Trump, Justice, Getty, Citadel, Bloomberg Big Tech, ChatGPT, Atlantic Locations: Manhattan, Asia, Millennium, New York, London
Schonfeld, Point72, and Citadel lead the way after 2024's first half. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementThe most well-known hedge funds in the industry have made money in 2024, but lag the overall market through the first half of the year. Point72 and Citadel, run by billionaires Steve Cohen and Ken Griffin, respectively, are up 8.7% and 8.1%, according to people close to the firms. This story is available exclusively to Business Insider subscribers.
Persons: Michael Gelband's ExodusPoint, , Schonfeld, Steve Cohen, Ken Griffin Organizations: Citadel, Service, Millennium, Business Locations: Point72
Arrowpoint, a $1 billion multi-strategy fund from former Millennium exec Jonathan Xiong, launched Monday. AdvertisementSome of the world's biggest hedge fund investors are backing former Millennium executive Jonathan Xiong's new Arrowpoint Investment Partners. The Asia-based multistrategy fund is launching with $1 billion and has secured big-name allocators, including Blackstone, Canada's largest pension, and Singapore's sovereign wealth fund Temasek. Globally, the biggest multistrategy managers like Citadel and Xiong's old firm Millennium continue to crowd out smaller competitors by poaching talent and hoovering up assets. Locally, the Asian hedge fund market has newcomers entering the fray and longtime players beefing up their rosters.
Persons: Jonathan Xiong, , Jonathan Xiong's, beefing Organizations: Service, Arrowpoint Investment Partners, Blackstone, Temasek, Citadel, Business Locations: Singapore, Hong Kong, Asia
Jain Global, one of the largest hedge fund launches ever, is set to start trading Monday. See BI's running list of 135-plus Jain Global hires, including names, job titles, and past employers. One of the most anticipated hedge fund launches ever is about to kick off. On Monday, Jain Global will start trading for the first time since former Millennium executive Bobby Jain started laying the groundwork for what has since become one of the industry's buzziest startups. He's launching with $5.3 billion in commitments, Bloomberg reported — making it one of the biggest hedge fund launches in history.
Persons: Bobby Jain, , Jain Organizations: Jain, Jain Global, Service, Bloomberg, Business
The findings open a new window into what life was like for scribes in ancient Egypt during the third millennium BC. Skeletal cluesLead study author Petra Brukner Havelková, an anthropologist at the National Museum in Prague, has specialized in identifying activity-induced skeletal markers for nearly 20 years. A drawing shows the parts of the skeleton most affected by the sitting positions and work carried out by scribes. But skeletal changes in their knees, hips and ankles also point to a squatting or crouching position that many scribes preferred. The chewing explains why their jaws were overloaded, while long hours of writing likely caused the skeletal changes observed in their right thumbs, the researchers said.
Persons: Veronika Dulíková, ” Dulíková, , Martin Frouz, Charles University, Petra Brukner Havelková, Havelková, Jolana, ” Havelková, Dr, Sonia Zakrzewski, ” Zakrzewski Organizations: CNN, Czech Institute of, Charles University, Records, , today’s Ministry of Finance, Ministry of Agriculture, Czech Institute of Egyptology, of Arts, Charles, National Museum, University of Southampton Locations: Egypt, Abusir, Prague, United Kingdom, bioarchaeology, Saqqara,
The news industry just gained a powerful ally in its effort to take on OpenAI. The Center for Investigative Reporting, the country's oldest nonprofit newsroom, sued OpenAI and lead backer Microsoft in federal court on Thursday for alleged copyright infringement, following similar suits from publications including The New York Times , Chicago Tribune and the New York Daily News. In December, The New York Times filed a suit against Microsoft and OpenAI, alleging intellectual property violations related to its journalistic content appearing in ChatGPT training data. Martin and Jodi Picoult, sued OpenAI last year, alleging copyright infringement in using their work to train ChatGPT. Reddit also announced in May that it will partner with OpenAI, allowing the company to train its AI models on Reddit content.
Persons: Sam Altman, OpenAI, OpenAI's, chatbot, Defendants, Monika Bauerlein, Bauerlein, Mother Jones, ChatGPT, Microsoft didn't, Jonathan Franzen, John Grisham, George R.R, Martin, Jodi Picoult, Reddit Organizations: Softbank Ventures, Center, Investigative, Microsoft, New York Times, Chicago Tribune, New York Daily News, of, The New York Times, Times, Southern, The Chicago Tribune, OpenAI, Time, News Corp, Wall Street, Barron's, New York Post, Apple Locations: Softbank Ventures Asia, Seoul, South Korea, Southern, of New York, U.S
The launch of Jain Global has dominated industry gossip since its founder left Millennium Management, where the 53-year-old Jain was Izzy Englander's right-hand man, in late 2022. And more specifically, scalability without incremental cost," Jonathan Barton, the firm's chief operating officer, said in an interview with BI. Starting from a clean sheet of paper gave Jain Global certain advantages, said one senior banker who worked closely with the new manager as it built out its teams and systems. 3Forge, a specialty-software provider, worked with Jain Global to build the interface that connects all the systems for PMs, the risk team, and management. In five to 10 years, Jain Global hopes it won't need a sprawling business-development function because a strong talent pipeline will have developed inside the firm.
Persons: , Bobby Jain's, Jain, Izzy Englander's, It's, Morgan Stanley, Griffin's, Steve Cohen's Point72, Michael Gelband's, redemptions, Jonathan Barton, Barton, — Barton, it's, Bobby, Paul Enright, Sam Kellie, Smith, David Hochberg, Enright, Hochberg, there's, Jon Caplis, Caplis, they're Organizations: Service, Jain Global, Millennium Management, Business, UBS, Citadel, Bank of America, Meru Capital Group, Jain, Credit Suisse, Viking Global, Macquarie, Investors, Bloomberg Locations: Singapore, Balyasny, New York, Houston, London, Hong Kong, York, Lane, Meru, Asia, PivotalPath
CNN —Astronomers are witnessing a never-before-seen spectacle in the cosmos: the awakening of a supermassive black hole at the center of a distant galaxy. In late 2019, a team of astronomers took notice of an otherwise unremarkable galaxy named SDSS1335+0728, 300 million light-years away in the Virgo constellation. “If so, this would be the first time that we see the activation of a massive black hole in real time.”Sleeping celestial giantsSupermassive black holes are classified as having masses more than 100,000 times that of our sun. “In the case of SDSS1335+0728, we were able to observe the awakening of the massive black hole, (which) suddenly started to feast on gas available in its surroundings, becoming very bright.”Previous research has pointed to inactive galaxies that appeared to become active after several years, which is usually triggered by black hole activity, but the process of a black hole awakening has never been directly observed before, until now, Hernández García said. The same scenario may play out with Sagittarius A*, the supermassive black hole at the center of the Milky Way, but astronomers aren’t sure how likely it is to occur, Ricci said.
Persons: , Paula Sánchez Sáez, Neil Gehrels Swift, Chandra, Sánchez Sáez, Lorena Hernández García, Claudio Ricci, , Hernández García, Ricci Organizations: CNN —, Palomar, Astrophysics, European Southern Observatory, Survey, Micron, Sky Survey, Sloan, European Southern, Southern Astrophysical Research, Keck, Millennium Institute of Astrophysics, University of Valparaíso, Diego Portales University Locations: California, Germany, European, Chile, Hawaii,
download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. A move away from big-time directional strategies is not a surprise. Plenty of funds that made their name on bold macro predictions have been humbled in the last 18 months. At Schonfeld, macro is still somewhat new for the firm. Several people familiar with the firm told Business Insider that he lost money while at the manager.
Persons: , Colin Lancaster, Brent Cook, Eisler, Igor Ninkovic, Jaime Valle, Jerome Saragoussi, Ben Melkman, Brevan Howard, Jordan Barnes, Rahul Mehra, Karthikeyan, Yasmin Sahin, Said Haidar's, Sharpe, Lancaster, Melkman, Marc Tishfield Organizations: Service, Business, United Arab Emirates, Schonfeld, Bridgewater, Barclays, Citi, Matador Investment Management, Millennium Locations: York, Europe, Dubai, London, Bridgewater, Melkman, Schonfeld, New York
AP —A big, round, 4,000-year-old stone building discovered on a Cretan hilltop is puzzling archaeologists and threatening to disrupt a major airport project on the Greek tourist island. Resembling a huge car wheel from above, the ruins of the labyrinthine, 1,800-square-meter (19,000-square-foot) building came to light during a recent dig by archaeologists. The building may have been used for religious or ritual purposes, the Greek Culture Ministry said. Greek Culture Ministry/APThe site was earmarked for a radar station to serve a new airport under construction near the town of Kastelli. Archaeologists don’t yet know what the hilltop structure was for.
Persons: it’s, Greece’s, It’s, Lina Mendoni, Organizations: AP, Ministry, Greek Culture Ministry, Athens International Locations: Kastelli, Heraklion, Knossos, Greece
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