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☆ Nobel Peace Prize 2024 awarded to Japanese atomic bomb survivor organization Nihon Hidankyo
▼ + stars: | 2024-10-11 | by ( Sam Meredith | In Samuelmeredith | ) www.cnbc.com time to read: +2 min

Japanese atomic bomb survivor organization Nihon Hidankyo won the Nobel Peace Prize on Friday in recognition of the organization's efforts to achieve a world free of nuclear weapons. "Gradually, a powerful international norm developed, stigmatising the use of nuclear weapons as morally unacceptable. The Norwegian Nobel Committee said it had not been able to contact Nihon Hidankyo yet, but that "it hoped to do so very soon." The committee has previously sought to spotlight the issue of nuclear weapons, awarding the peace prize to the International Campaign to Abolish Nuclear Weapons (ICAN) in 2017. Winners of the Nobel Prize typically receive 11 million Swedish krona ($1.06 million), although multiple winners share the sum.

Persons: Kido Suechi, Nihon Hidankyo, Nihon, Alfred Nobel Organizations: Nuclear, Austrian, International Locations: Japan, Vienna, Austria, Norwegian, Hiroshima, Nagasaki, Oslo, Norway, Swedish

☆ China economy: Beijing will ‘significantly’ increase spending
▼ + stars: | 2024-10-11 | by ( ) edition.cnn.com time to read: +4 min

Beijing Reuters —China will “significantly increase” government debt issuance to offer subsidies to people with low incomes, support the property market and replenish state banks’ capital as it pushes to revive sputtering economic growth. “There is still relatively big room for China to issue debt,” he said. Reuters reported last month that China plans to issue special sovereign bonds worth about 2 trillion yuan ($284.43 billion) this year as part of fresh fiscal stimulus. Separately, Bloomberg News reported that China is also considering injecting up to 1 trillion yuan ($142 billion) of capital into its biggest state banks to increase their capacity to support the economy, primarily by issuing new sovereign bonds. Swedish furniture retailer Ikea, whose 39 stores in China have felt the spillovers from the property crisis, urged Beijing on Thursday to deploy further stimulus.

Persons: Lan Foan, ”, Zheng Shanjie, “, Lan Organizations: Beijing Reuters, Finance, National Development, Reform Commission, Communist Party’s, Reuters, Bloomberg News, Local, Investment, Ikea Locations: Beijing, China, China’s, Swedish

☆ I moved from Sweden to the US. I've found Americans to be friendlier and I enjoy the work hustle.
▼ + stars: | 2024-10-11 | by ( Jane Ridley | ) www.businessinsider.com time to read: +5 min

download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . I was researching a master's thesis as part of my degree in my native Sweden and lived in New York for a year. I had a great job in Sweden — I was a strategic business developer in the IT department of a global company — and loved my boss. But after traveling a lot and then moving abroad, I've changed a lot. I feel like I've outgrown Sweden, and it's almost claustrophobic for me to go back.

Persons: Olivia Tapper, —, Thomas, Sweden —, I've Organizations: Service, America, Business Locations: Scandinavia, Austin , Texas, Sweden, New York, Europe, Austin, Rome, Stockholm

☆ Everything our editors bought for Amazon October Prime Day 2024
▼ + stars: | 2024-10-10 | by ( Aksha Mittapalli | Aksha Mittapalli Is An Editorial Intern For Select On Nbc News. She Is A Senior At Nyu | Double Majoring In Journalism | ) www.nbcnews.com time to read: +17 min

Whether we're stocking up on familiar favorites or taking advantage of big discounts, NBC Select editors made good use of Prime Day. Below are all the products we added to our carts this October Prime Day. I never don’t have extra bottles in my apartment and I always like to stock up on it during Prime Day. I always buy basics on Prime Day, so this was a no-brainer to throw in my cart last minute. To round up this list, I asked editors what they bought for Prime Day and why they bought each product.

Persons: – Lindsay Schneider, – Mili, La, I’ve, – Cory Fernandez, bobby pins, – Lauren Swanson, they’re, Mili, Zoe Malin, – Rebecca Rodriguez, – Aksha, – Bianca Alvarez, Ana Luisa, Anker, Aksha, – Ella Morrissey, – Nikki Brown, Rosalie Sparaco, It’s comfy, they’ve, – Ashley Morris, – Zoe Malin, – Jordan Bowman, I’m, TikTok Organizations: NBC, La Roche, Apple, Amazon, July’s, Prime, Facebook, Twitter Locations: Poppi

The Nobel Prize in literature was awarded Thursday to South Korean author Han Kang for what the Nobel committee called “her intense poetic prose that confronts historical traumas and exposes the fragility of human life.”Mats Malm, permanent secretary of the Swedish Academy’s Nobel Committee, announced the prize in Stockholm. Han, 53, won the International Booker Prize in 2016 for “The Vegetarian,” an unsettling novel in which a woman’s decision to stop eating meat has devastating consequences. The literature prize has long faced criticism that it is too focused on European and North American writers of style-heavy, story-light prose. On Wednesday, three scientists who discovered powerful techniques to decode and even design novel proteins were awarded the Nobel Prize in chemistry. The prize carries a cash award of 11 million Swedish kronor ($1 million) from a bequest left by the award’s creator, Swedish inventor Alfred Nobel.

Persons: Han Kang, ” Mats Malm, International Booker, Annie Ernaux of, Victor Ambros, Gary Ruvkun, John Hopfield, Geoffrey Hinton —, Alfred Nobel Organizations: International, North Locations: Korean, Swedish, Stockholm ., Annie Ernaux of France

☆ Ikea revenue falls after it lowered prices
▼ + stars: | 2024-10-10 | by ( Jordan Valinsky | ) edition.cnn.com time to read: +1 min

New York CNN —Last year, Ikea slashed prices on roughly 2,000 products to give inflation-weary customers a break. Ikea, the world’s largest furniture retailer, said that it doesn’t have any regrets about prioritizing “lowering the prices” in a $2 billion discount initiative at all of its stores globally. Like its rivals, Ikea gradually hiked prices since the peak of Covid-19 in 2020 as the costs of materials and transport rose. The company’s major discount program last year cut prices on several of its most popular items, like its Billy bookcase. Ikea sold 1.2 billion meatballs for the year, with a company spokesperson telling CNN that it also sold more meals at its cafés.

Persons: Jesper Brodin, Billy bookcase Organizations: New, New York CNN, Ikea, Ikea’s, CNN Locations: New York, Swedish

☆ Sanctions have put the production of Russia's most advanced stealth fighter in jeopardy, research group says
▼ + stars: | 2024-10-10 | by ( Thibault Spirlet | ) www.businessinsider.com time to read: +5 min

Western sanctions have impacted Russia's production of Su-57 fighter jets, according to a research group. AdvertisementWestern sanctions are threatening Russia's production of its prized Su-57 fighter jet, according to a research group. "It's clear that Russia's military industry heavily depends on Western components, particularly in electronics," it said, adding that sanctions have put Russia's Su-57 production "in jeopardy." "There's no question that Western sanctions are having an impact on Russia's ability to generate its most sophisticated military systems," Spurling told BI. Western sanctions and the war in Ukraine have damaged Russia's economy, but their exact impact is difficult to quantify.

Persons: —, Russia's Su, Bryden Spurling, Spurling, Su, Justin Bronk, Anders Åslund, Alexandra Prokopenko, Putin, Jay Zagorsky Organizations: Frontelligence, Telegraph, Service, EA, RAND Europe, NATO, UK Ministry of Defence, Royal United Services Institute, Project Syndicate, Carnegie, Carnegie Russia Eurasia Center, Financial, Boston University's Questrom School of Business Locations: Russia, Ukraine, Astrakhan, Swedish, Carnegie Russia

☆ Baker, Hassabis, Jumper win 2024 Nobel Prize in Chemistry
▼ + stars: | 2024-10-09 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms | ) www.nbcnews.com time to read: +2 min

Scientists David Baker, Demis Hassabis and John Jumper won the 2024 Nobel Prize in Chemistry, the award-giving body said on Wednesday, for work on the structure of proteins. The prize, widely regarded as among the most prestigious in the scientific world, is awarded by the Royal Swedish Academy of Sciences and is worth 11 million Swedish crowns ($1.1 million). Half the prize was awarded to Baker “for computational protein design” while the other half was shared by Hassabis and Jumper “for protein structure prediction," the academy said. The third award to be handed out every year, the chemistry prize follows those for medicine and physics announced earlier this week. First handed out in 1901, 15 years after Nobel’s death, it is awarded for achievements in medicine, physics, chemistry, literature and peace.

Persons: David Baker, Demis Hassabis, John Jumper, Baker “, Alfred Nobel, ”, Alfred Nobel’s, Ernest Rutherford, Marie Curie, Moungi Bawendi, Louis Brus, Aleksey Ekimov Organizations: Royal Swedish Academy of Sciences, Hassabis Locations: Swedish, Stockholm

☆ Nobel Prize in chemistry awarded for work on proteins to David Baker, Demis Hassabis and John Jumper
▼ + stars: | 2024-10-09 | by ( Christian Edwards | Katie Hunt | ) edition.cnn.com time to read: +4 min

The Nobel Prize in chemistry was awarded in Sweden on Wednesday. EXCLUSIVE: The moment John Jumper shares the news about his 2024 Nobel Prize in Chemistry. pic.twitter.com/OhNSwiKwgQ — The Nobel Prize (@NobelPrize) October 9, 2024Since the pair’s key paper was published in 2021, it has been cited more than 13,000 times. They are generally built from 20 amino acids that can be combined in endless ways. Using the information stored in DNA as a blueprint, the amino acids are linked together in our cells to form long strings.

Persons: ”, David Baker, Hassabis, John Jumper, Jonathan Nackstrand, Wednesday’s, Lasker, —, David Pendlebury, Baker, Johan Aqvist, ” Aqvist, Geoffrey Hinton, John Hopfield Organizations: CNN, Getty, Google, Clarivate’s Institute for Scientific, University of Washington Locations: Sweden, AFP, British, American, DeepMind

☆ Sweden's Volvo says deputy CEO to step down in management reshuffle as EV demand slows
▼ + stars: | 2024-10-09 | by ( Sam Meredith | In Samuelmeredith | ) www.cnbc.com time to read: +1 min

Swedish automaker Volvo Cars on Wednesday announced deputy CEO Björn Annwall will step down from his current role as part of a management reshuffle designed to increase simplicity and collaboration in the organization. It comes shortly after Volvo Cars abandoned its near-term goal of selling only electric vehicles (EVs), citing a need to be "pragmatic and flexible." "In a rapidly changing world, we need to ensure our organisation is equipped to navigate a more challenging market," Jim Rowan, CEO at Volvo Cars, said in a written statement. "We are now regrouping our commercial leadership team with a focus on making Volvo Cars even stronger with increased speed and efficiency," he added. Volvo Cars said it was taking these steps to navigate challenges facing the automotive industry, such as headwinds driven by geopolitical and macroeconomic uncertainties, market sentiment, rapid technology shifts and supply chains.

Persons: Björn Annwall, Jim Rowan, Annwall, Arek Nowinski, Gretchen Saegh, Fleming, Oscar Bertilsson Olsborg Organizations: Volvo, Wednesday, Volvo Cars Locations: China

☆ HSBC exec says there's a lot of AI 'success theater' happening in finance
▼ + stars: | 2024-10-09 | by ( Ryan Browne | ) www.cnbc.com time to read: +8 min

Jaap Arriens | NurPhoto via Getty ImagesLONDON — Increasingly many financial services firms are touting the benefits of artificial intelligence when it comes to boosting productivity and overall operational efficiency. Despite bold statements, a lot of companies are failing to produce tangible results, according to Edward J Achtner, the head of generative AI for U.K. banking giant HSBC . One example he gave was a partnership that HSBC has in place with internet search titan Google on the use of AI technology anti-money laundering and fraud mitigation. Boteju stressed that Lloyds is "proceeding with caution" when it comes to exposing the bank's customers to generative AI tools. Generative AI, on the other hand, is a more nascent technology, according to the Lloyds exec.

Persons: Jaap Arriens, Edward J Achtner, Achtner, Ranil Boteju —, Nathalie Oestmann, ChatGPT, Klarna, headcount, Sebastian Siemiatkowski, Siemiatkowski, Oestmann, Boteju, Banks, we've, Bahadir Yilmaz, Yilmaz, It's, Johan Tjarnberg Organizations: NurPhoto, Getty, HSBC, Leadership, Lloyds Banking Group, NV Ltd, Royal Albert Hall, Microsoft, Google, BBC, NV, CNBC, Lloyds, ING Locations: London

☆ Swedish battery maker Northvolt says head of Europe’s first homegrown gigafactory to step down
▼ + stars: | 2024-10-09 | by ( Sam Meredith | In Samuelmeredith | ) www.cnbc.com time to read: +1 min

Employees of the State Archaeological Office have hung pictures of finds from a construction trailer during a main archaeological investigation on the Northvolt site. Sweden's Northvolt on Wednesday said the head of its main plant, Europe's first homegrown gigafactory for lithium-ion battery cells, will step down with immediate effect. The position will be held until the end of the year as the company seeks to secure a permanent replacement for CEO of Northvolt Ett, it added. Based in Stockholm, Sweden, Northvolt is one of Europe's most valuable privately held tech firms that builds lithium-ion batteries for the electric vehicle industry. The strategic action required the company to cut a total of 1,600 jobs in Sweden, Northvolt said.

Persons: Northvolt, Mark Duchesne, Northvolt Ett, Angéline J, Bilodeau Organizations: Office, Volkswagen, Volvo Locations: Sweden, North America, Stockholm

☆ Nobel Prize in physics 2024 awarded for work on artificial intelligence to John Hopfield and Geoffrey Hinton
▼ + stars: | 2024-10-08 | by ( Christian Edwards | Katie Hunt | ) edition.cnn.com time to read: +6 min

CNN —The 2024 Nobel Prize in physics has been awarded to John Hopfield and Geoffrey Hinton for their “foundational discoveries” that enable machine learning with artificial neural networks. Mimicking the brainAI has become shorthand for machine learning using artificial neural networks. Whereas the brain’s neurons communicate with each other through synapses, artificial nodes influence each other through connections. You can train an artificial neural network by developing stronger connections between the nodes, just like you can train the brain. Did you know that an artificial neural network is designed to mimic the brain?

Persons: John Hopfield, Geoffrey Hinton, Hopfield, Hinton, ”, Jonathan Nackstrand, Ellen Moons, “, —, Hopfield’s, “ I’m, ” Hinton, There’s Organizations: CNN, Princeton University, University of Toronto, Getty, Physics, Hopfield, Google Locations: Sweden, AFP

☆ How did the pussy-bow blouse became a political staple?
▼ + stars: | 2024-10-08 | by ( Leah Dolan | ) edition.cnn.com time to read: +8 min

Vice President Kamala Harris wore a plum-hued pussy-bow shirt to speak with 60 Minutes correspondent Bill Whitaker. A slew of newly employed women in the ‘70s and ‘80s agreed, and the pussy-bow blouse’s sudden ubiquity in offices cemented it as a symbol of corporate, second-wave feminism. Melania Trump wore a pink Gucci pussy bow blouse at the presidential debate at Washington University in St. Louis, Missouri on October 9, 2016. Rick Wilking/Pool/AFP/Getty ImagesPeople gather at Stortorget square in Stockholm showing support for Sara Danius by wearing make-shift pussy-bow blouses with scarves and neck-ties. A ‘loaded garment’But still, the pussy-bow blouse continues to divide opinion.

Persons: ” Margaret Thatcher, Miriam Stoppard, “, Thatcher, Margaret Thatcher, Tim Graham, ”, Duchess Louise de La, — King Louis XIV’s, it’s, Kamala Harris, Donald Trump, Oprah, Bill Whitaker, Harris, John T, Malloy, Richard Nixon, Helen Thomas, Ik, Meg Whitman, Proctor, Gamble’s, I’m, Nina McLemore, ’, Hilary Clinton, Elizabeth Warren, Maxine Waters, Elena Kagan, Melania Trump, Kate Moss, Johnny Depp’s, Sara Danius —, Swedish Academy —, Danius, Rick Wilking, Sara Danius, Jonas Ekstromer, Jenny Sundén, Trump, Moss, Sundén, It’s, ” McLemore Organizations: CNN, British, Democratic National Conference, CBS, Milan Fashion, PBS, Democratic Rep, Supreme, Swedish Academy, Washington University, Getty, Södertörn University, “, Stock Exchange, Fortune Locations: British, Newburgh, ” New York, Sweden, St, Louis , Missouri, Stockholm, AFP, America

☆ Why oil and gas markets are dreading the risk of supply disruption in the Strait of Hormuz
▼ + stars: | 2024-10-08 | by ( Sam Meredith | In Samuelmeredith | ) www.cnbc.com time to read: +5 min

In 2022, oil flow in the Strait of Hormuz averaged 21 million barrels per day, according to the U.S. Energy Information Administration (EIA). Saul Kavonic, senior research analyst at MST Financial, said supply disruptions along the Strait of Hormuz could send oil prices significantly higher. Oil prices traded more than 3% on Monday, extending gains even after notching their sharpest weekly gain since early 2023 last week. "But seeing where the oil price sits right now the market doesn't seem to hold much probability for such a development at all," he added. "A significant disruption to these flows would be enough to push oil prices to new record highs, surpassing the record high of close to $150/bbl in 2008," he added.

Persons: Alan Gelder, Wood Mackenzie, CNBC's, Iraq —, Gelder, Saul Kavonic, Kavonic, Bjarne Schieldrop, SEB, Brent, Schieldrop, Warren Patterson, Patterson Organizations: Nurphoto, U.S . Energy Information Administration, Energy, Brent, U.S, West Texas, ING, bbl, United Arab Emirates, Space Shuttle Columbia Locations: Persian, Bushehr, Iran, Hormuz, Oman, Strait, Israel, Saudi Arabia, Kuwait, Iraq, UAE, Gulf, Muscat

☆ My grandma is practicing 'Swedish death cleaning,' or getting rid of things before you die. It inspired me to declutter, too.
▼ + stars: | 2024-10-08 | by ( Tegan Forder | ) www.businessinsider.com time to read: +6 min

My grandma is practicing Swedish death cleaning by giving things away to her family. She might not know it, but she's carrying out a practice called Döstädning, or Swedish death cleaning — a philosophy of getting your house in order before you die. Tegan Forder's grandmother is giving away items to her family in a practice known as Swedish death cleaning. Facebook Marketplace is also a useful platform for giving things away for free like furniture, bags of clothes, and kids' shoes. AdvertisementI've learned that decluttering is a lesson in patience if you are doing it thoughtfully — just as the Swedish death cleaning philosophy dictates.

Persons: she's, It's, —, grandpa, Margareta Magnusson, Tegan Forder's, Tegan Forder, I've, — I've Organizations: Service, Facebook Locations: Swedish

☆ Geoffrey Hinton, the 'godfather of AI' who warned of its existential risk, awarded Nobel Prize for Physics
▼ + stars: | 2024-10-08 | by ( Jyoti Mann | ) www.businessinsider.com time to read: +2 min

Geoffrey Hinton and John J. Hopfield have been awarded the 2024 Nobel Prize in Physics. The pair won for their inventions that enable machine learning with artificial neural networks. AdvertisementGeoffrey Hinton, often dubbed the "Godfather of AI," and John J. Hopfield have been awarded the 2024 Nobel Prize in Physics. The Royal Swedish Academy of Sciences announced Tuesday that it had recognized Hinton and Hopfield "for foundational discoveries and inventions that enable machine learning with artificial neural networks." The computer scientist has been widely regarded as a pioneer of machine learning.

Persons: Geoffrey Hinton, John J, Hopfield, —, Hinton, Foundation didn't Organizations: Service, Royal Swedish Academy of Sciences, Big Tech, British, Google, University of Toronto, Foundation, Business Locations: Hinton, Canadian

☆ Sweden told people to open their hearts to immigrants 10 years ago. Its U-turn has been dramatic
▼ + stars: | 2024-10-07 | by ( Holly Ellyatt | ) www.cnbc.com time to read: +8 min

Sweden registered 81,301 asylum seekers in 2014, data shows. Jonas Ekstromer | Afp | Getty Images"It pains me that Sweden is no longer capable of receiving asylum seekers at the high level we do today. Since then, Sweden's immigration policy has been on a one-way street. A decade ago, all member states of the European Union were encouraged to welcome asylum seekers and refugees fleeing conflict zones in the Middle East, notably Syria but also Iraq and Afghanistan. This year, Sweden is expected to have its lowest number of asylum seekers since 1997.

Persons: Laurie Noble, Sweden's, Fredrik Reinfeldt, Jonas Ekstromer, Stefan Löfven, Jimmie Akesson, Ulf Kristersson, Ebba Busch, Johan Pehrson, Kristersson, Linnea Rheborg, Jacob Lind, " Lind, Lind, Lesbos Spencer Platt, Migration Maria Malmer Stenergard Organizations: Stone, Getty, Afp, Sweden Democrats, Sweden, Moderate, Liberal, Christian Democrats, Malmö University, CNBC, European, UN Refugee Agency, Swedish Migration Agency, EU, Migration, Nurphoto Locations: Stockholm, Sweden, Europe, Syria, Malmo, Iraq, Iran, Somalia, Afghanistan, Swedish, Sundbyberg, Germany, Lesbos, Stockholm City

☆ Nobel Prize in medicine 2024 awarded for work on the discovery of microRNA to Victor Ambros and Gary Ruvkun
▼ + stars: | 2024-10-07 | by ( Christian Edwards | Katie Hunt | ) edition.cnn.com time to read: +4 min

CNN —This year’s Nobel Prize in physiology or medicine has been awarded to Victor Ambros and Gary Ruvkun for their work on the discovery of microRNA, a fundamental principle governing how gene activity is regulated. Their research revealed how genes give rise to different cells within the human body, a process known as gene regulation. The Nobel Prize committee announced the prestigious honor, seen as the pinnacle of scientific achievement, in Sweden on Monday. Ruvkun conducted his research at Massachusetts General Hospital, and is a professor of genetics at Harvard Medical School. Nobel Committee Secretary General Thomas Perlmann speaks to the media in front of a picture of this year's laureates Victor Ambros and Gary Ruvkum during the announcement of the Nobel Prize in medicine winners on Monday.

Persons: Victor Ambros, Gary Ruvkun, Ambros, ’, “, Ruvkun, General Thomas Perlmann, Gary Ruvkum, Jonathan Nackstrand, ”, Olle Kämpe, David Pendlebury, ” Pendlebury, Katalin Karikó, Drew Weissman Organizations: CNN, University of Massachusetts Medical School, Harvard University, Massachusetts General Hospital, Harvard Medical School, Getty, Clarivate’s Institute for Scientific Locations: Sweden, Massachusetts, AFP, Covid

☆ Scientists grow mystery tree from 1,000-year-old seed
▼ + stars: | 2024-10-05 | by ( Katie Hunt | ) edition.cnn.com time to read: +6 min

But it doesn’t mean that scientists aren’t interested in bringing the past back to life in some form. Dig thisThe tree, which the study authors believe may have a biblical connection, is seen at 12 years old. Remarkably, the tree thrived and now stands 10 feet (3 meters) tall, although it has never flowered or produced fruit. Using DNA sequencing, the researchers identified the mystery tree as part of the Commiphora genus, but its exact species is unknown and likely extinct. Scientists aim to extract DNA from the remains to learn more about those buried there and whether they were related.

Persons: — it’s, aren’t, Guy Eisner, Sarah Sallon, Louis, Tom Little, Alfred Nobel, didn’t, Johannes Fritz, —, Ashley Strickland, Katie Hunt Organizations: CNN, Natural Medicine Research, Reuters Archaeologists, Vikings, International Union for Conservation of, NASA, —, US Navy, — Marvel, CNN Space, Science Locations: ”, Judean, Jerusalem, India, Åsum, Denmark, Denmark’s, Swedish, Morocco, Europe, Austrian

☆ 5 Nobel-worthy discoveries that haven’t won the prize
▼ + stars: | 2024-10-05 | by ( Katie Hunt | ) edition.cnn.com time to read: +8 min

The first human genomeThe mapping of the human genome has had a huge impact on biology and other fields. The output from a DNA sequencer is shown in this undated image from the National Human Genome Research Institute. But one reason the project may not have earned a Nobel Prize is the sheer number of people involved in the feat. The Nobel Prize in physiology or medicine will be announced on Monday, followed by the physics prize on Tuesday and the Nobel Prize in chemistry on Wednesday. The Nobel Prize for literature will be announced on Thursday and the Nobel Peace Prize on Friday.

Persons: Alfred Nobel, Nobel, Carsten Snejbjerg, Svetlana Mojsov, Joel Habener, Lotte Bjerre Knudsen —, Lasker, Knudsen, Hassabis, John Jumper, Lester Cohen, David Pendlebury, Pendlebury, “ Nobel, David Baker, ”, Boris Roessler, We’re, Jeffrey Gordon, Robert J, Glaser, Louis, Gordon, Claire King, Barack Obama, Drew Angerer, Mary, King Organizations: CNN, Stockholm —, Human Genome Research, Nordisk, Bloomberg, Getty, Rockefeller University, Harvard Medical School, Novo Nordisk, Clarivate’s Institute for Scientific Information, Google, Institute for Protein, University of Washington School of Medicine, Washington University, of Locations: Swedish, United States, United Kingdom, France, Germany, Japan, China, Hillerød, Denmark, Los Angeles, St

☆ Why oil prices haven't skyrocketed on Middle East supply fears — yet
▼ + stars: | 2024-10-04 | by ( Sam Meredith | In Samuelmeredith | ) www.cnbc.com time to read: +6 min

Iran, which is a member of OPEC, is a major player in the global oil market. It's estimated that as much as 4% of global supply could be at risk if Israel targets Iran's oil facilities. For some analysts, the reason crude prices have yet to move even higher is because the oil market is short. watch nowTamas Varga, an analyst at oil broker PVM, told CNBC via email on Thursday that the oil market was pricing in some risk premium given the geopolitical concerns. These fears, however, will be greatly alleviated in [the] coming days unless oil supply from the region or traffic through the Strait of Hormuz are materially impacted," he added.

Persons: Fatemeh, Goldman Sachs, SEB, Jeff Currie, Carlyle, CNBC's, it's, Currie, we've, Amrita Sen, We've, Sen, Joe Biden, Biden, Tamas Varga, " Varga, Benjamin Netanyahu, Masoud Pezeshkian Organizations: Anadolu, Getty, Energy, OPEC, Brent, U.S, West Texas, CNBC, White House, Islamic Revolutionary Guard Corps, Persian, Nurphoto Locations: Isfahan Refinery, Iran, Isfahan, Israel, Swedish, backwardation, bearishness, U.S, Hormuz, Oman, Tehran, Qatar, Persian, Bushehr, Bushehr province

☆ Klarna CEO says a European tech brain drain is ‘number one risk’ for company ahead of IPO
▼ + stars: | 2024-10-03 | by ( Ryan Browne | ) www.cnbc.com time to read: +5 min

Sebastian Siemiatkowski, CEO of Klarna, speaking at a fintech event in London on Monday, April 4, 2022. Chris Ratcliffe | Bloomberg via Getty ImagesA European technology talent brain drain is the biggest risk factor facing Klarna as the Swedish payments company gets closer to its upcoming initial public offering, according to CEO Sebastian Siemiatkowski. "When we looked at the risks of the IPO, which is a number one risk in my opinion? He was referring to company risk factors, which are a common element of IPO prospectus filings. Still, when it does go public, Klarna will be among the first major fintech names to successfully debut on a stock exchange in several years.

Persons: Sebastian Siemiatkowski, Chris Ratcliffe, Siemiatkowski, —, Klarna, Compensia, Klarna's, CNBC's, Goldman Sachs, Jack Dorsey's, he's, Siemiakowski, they're Organizations: Bloomberg, Getty, CNBC, Apple, Meta, PNL, Ventures, Google, U.S Locations: London, Europe, U.S, Sweden, Germany, Italy, Britain, Afterpay, American

☆ Oil market faces a rude awakening if Iran’s energy infrastructure is targeted, analysts say
▼ + stars: | 2024-10-03 | by ( Sam Meredith | In Samuelmeredith | ) www.cnbc.com time to read: +1 min

It comes amid speculation that Israel could be planning to launch a retaliatory attack on Iran targeting its oil infrastructure — a prospect which would likely deliver a rude awakening to bearish energy market participants. Iran, which is a member of the Organization of the Petroleum Exporting Countries (OPEC), is a major player in the global oil market. So much so, it is estimated that as much as 4% of the world's supply could be at risk if Iran's oil infrastructure becomes a target for Israel. That, of course, would add a significant risk premium to oil," Schieldrop said. Situated between Iran and Oman, the Strait of Hormuz is a narrow but strategically important waterway that links crude producers in the Middle East with key markets across the world.

Persons: Bjarne Schieldrop, SEB, Schieldrop Organizations: CNBC, Organization of, Petroleum, Israel Locations: Isfahan Refinery, Iran, Isfahan, Israel, Strait, Hormuz, Oman

☆ U.S. crude oil rises for third day as traders fear Middle East escalation that disrupts supplies
▼ + stars: | 2024-10-03 | by ( Spencer Kimball | ) www.cnbc.com time to read: +1 min

U.S. crude oil prices rose nearly 2% on Thursday for a third consecutive session of gains, as the market braces for Israel to retaliate against Iran. The risk of oil supply disruptions increases as fighting in the Middle East intensifies, but OPEC+ is sitting on a large amount of spare crude that could step into the breach, according to Claudio Galimberti, chief economist at Rystad Energy. U.S. crude oil has gained 5% this week. "That would add a significant risk premium to oil," he told CNBC's "Street Signs Europe." As a consequence, oil prices could surge to $200 per barrel if Israel hits Iran's oil infrastructure, he said.

Persons: Claudio Galimberti, Galimberti, Bjarne Schieldrop, Schieldrop, CNBC's Organizations: Rystad Energy Locations: Israel, Iran, OPEC, Swedish, Strait, Hormuz

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