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[1/4] Saudi Crown Prince Mohammed bin Salman receives U.S. President Joe Biden at Al Salman Palace upon his arrival in Jeddah, Saudi Arabia, July 15, 2022. Biden would also score a foreign policy win as he seeks re-election in November 2024. The focus is on Biden’s fellow Democrats who have condemned Saudi Arabia over human rights but whose support would be needed if any agreement requires congressional approval. Though foreign policy rarely sways U.S. elections, Biden, facing a re-election fight against Republican former president Donald Trump, may be thinking of his legacy. Murphy, a Democrat on the Senate Foreign Relations Committee, said he favors Israeli-Saudi normalization and is open to reviewing any broader agreement but would not be easily convinced.

Persons: Saudi Crown Prince Mohammed bin Salman, Joe Biden, Biden, Joe Biden’s, Israel, “, ”, Jonathan Panikoff, government’s, Biden’s, Washington, Benjamin Netanyahu, Donald Trump, Aaron David Miller, Prince Mohammed bin Salman, Jamal Khashoggi, Chris Murphy, Murphy, Jared Kushner, Trump, Abraham, Netanyahu, Matt Spetalnick, Steve Holland, Patricia Zengerle, Dan Williams, Nick Zieminski Organizations: Saudi Crown, Al, Saudi Royal Court, REUTERS, Rights, Atlantic Council, Saudi, Israel, Republicans, Israeli, Republican, Carnegie Endowment, International Peace, SAUDI, MbS, NATO, Reuters, Democrat, Senate Foreign Relations, Abraham Accords, Middle, General, Trump, Biden, Thomson Locations: Jeddah, Saudi Arabia, Bandar, Israel, U.S, Riyadh, Iran, Gulf, East, Russia, Ukraine, Saudi, Yemen, “, United States, Washington, Jerusalem

☆ A Fashion Show at Anna Delvey’s House? Is That What It Takes?
▼ + stars: | 2023-09-12 | by ( Vanessa Friedman | More About Vanessa Friedman | ) www.nytimes.com time to read: +1 min

And she didn’t just lend her (fake) name to the invitation: She lent her address too, co-hosting the event at her East Village walk-up. (Well, until her immigration case is resolved, Ms. Sorokin can’t leave the building.) Actually, it was on the silver-painted tar-papered roof of her East Village walk-up. The show was the brainchild of Kelly Cutrone, a fashion publicist who was the subject of the 2010 Bravo reality show “Kell on Earth.” Ms. Cutrone had invited Ms. Sorokin to team up on a “pop-up P.R. Ms. Sorokin does, after all, have a history in understanding the way fashion could be used to manipulate those around her.

Persons: Anna Delvey, Julia Garner, Shao, Shao Yang, Sorokin can’t, Kelly Cutrone, “ Kell, Ms, Cutrone, Sorokin, ”, “, LaCroix seltzers, Delvey, “ We’re Organizations: Netflix, Bravo Locations: New York, Germany

☆ Sri Lankan food and chefs finally get global recognition
▼ + stars: | 2023-09-08 | by ( Zinara Rathnayake | ) edition.cnn.com time to read: +9 min

The tourism connectionThe increased visibility of Sri Lankan cuisine has “been a long time coming,” Meewalla says. “This continuous online exposure makes people try out Sri Lankan food in restaurants.”Diverse influencesToday, more and more Sri Lankan chefs across the world are championing Sri Lankan food while defying common misconceptions about the cuisine. “It has helped change the global perception that Sri Lankan food is different from Indian food, and it’s not only a lot of curries paired with rice,” Williams says. Meewella points out that Sri Lankan cuisine is also heavily plant-based with many vegan options, which helps the cuisine stand out and resonate with global audiences. I cannot wait for casual Sri Lankan food to become a nationwide craving across America.”

Persons: Kolamba, Aushi Meewella, ” Meewalla, ”, Meewella, Dhayanie Williams, “ We’ve, it’s, ” Williams, Sam Fore, Bruno Morandi, “, Williams, Brian Senaratne, Curry Bowl’s, We’ve Organizations: CNN, Sri, MasterChef, Masterchef, Bank, Curry Bowl Locations: London’s Soho, Sri Lankan, Sri Lanka, London, Sri, Lankans, Lankan, Kolamba, Tamil, Sri Lankans, American, Lexington , Kentucky, Lexington, Uppuveli, Nadodi, Kuala Lumpur, Zagreb, Croatia, America

That implies a potential $2.5 billion investment will be equivalent to a 2.5% stake in the company. "Several marquee global strategic and financial investors have shown strong interest in Reliance Retail. Ambani said in 2019 that the group planned to list the retail business in five years. Reliance Retail has more than 18,000 retail outlets, but also a growing e-commerce operation where it competes with the likes of Amazon (AMZN.O) and Walmart's (WMT.N) Flipkart. Reliance Retail reported a consolidated net profit of 91.81 billion Indian rupees ($1.11 billion) for the financial year that ended in March 2023, on revenue of 2.6 trillion rupees.

Persons: Ambani, Mukesh Ambani's, Reliance, Morgan Stanley, QIA, Ambani's, Isha Ambani, Aditya Kalra, Scott Murdoch, Sriram, Munsif Vengattil, Susan Fenton Organizations: Retail Ventures, Reuters, Qatar Investment Authority, India's, Burberry, Reliance, Reliance Retail, KKR, Saudi Public Investment Fund, General Atlantic, United Arab, Unilever, Thomson Locations: SYDNEY, Qatar, U.S, China, United Arab Emirates, New Delhi, Sydney, Mumbai

☆ Triller has pitched its app as a TikTok replacement, but says it won't try to generate revenue directly from its namesake product
▼ + stars: | 2023-08-25 | by ( Dan Whateley | ) www.businessinsider.com time to read: +5 min

Triller said it won't try to generate revenue directly in the short-video app it was named after. The company does not perceive the Triller app as core to how it makes money, Green told Insider. Triller will therefore book costs tied to the Triller app as sales, marketing, general, or administrative expenses rather than as a cost of revenue, it wrote in its securities filing. These costs could include paying talent and influencers to drive adoption of the Triller app, or paying to license music for the app as a brand-building tool, it wrote. In 2022, Triller said it grew overall revenue by roughly 80% year over year to $47.7 million.

Persons: Triller, Julius, Michael Green, Trump, Trump's TikTok, Mahi de Silva, isn't, we're, I'm, it's, Green, FITE Organizations: Tech, New York Stock Exchange Locations: Beijing

☆ Shoppers are trading down, even in secondhand purchases
▼ + stars: | 2023-08-22 | by ( Parija Kavilanz | ) edition.cnn.com time to read: +4 min

Even though fair condition bags, shoes, and accessories show signs of heavier wear, The RealReal’s report said demand for fair condition bags is up 130% this year. For example, a Chanel flap bag in “fair condition” is $4,900, but in “excellent” could cost 65% more, or about $8,000. But, with the recent rise in fair condition, shoppers have embraced imperfection. They’re willing to buy older, worn items that are made well and still remain beautiful, and they wear them with pride,” said McCandless. Within certain fashion circles, the worn look has become a badge of honor,” she said.

Persons: Alexander McQueen, aren’t, Rati Sahi Levesque, Samantha McCandless, ”, McCandless, “, Millennials, Z, “ We’re Organizations: New, New York CNN, CNN Locations: New York

☆ Undergrad enrollment in petroleum engineering has dropped 75% over the past 10 years — even though they make 40% more than computer science grads
▼ + stars: | 2023-08-10 | by ( Gabriel Rivera | ) www.businessinsider.com time to read: +3 min

Undergraduate enrollment in petroleum engineering is down 75% since 2014, WSJ reported. That's despite the fact that the average petroleum engineering grad makes 40% more than a computer science grad. Heinze told the Journal of Petroleum Technology that over 90% of petroleum-engineering students at Texas Tech have jobs right after graduation. But when it came to picking which career paths were most attractive, the Gen Zers surveyed ranked finance as the most promising industry regarding career prospects. Education was ranked the second-most popular industry when it came to career prospects, and STEM, which includes engineering, was ranked fifth.

Persons: That's, Lloyd, Young, Heinze, Zers Organizations: Morning, Petroleum, Street Journal, Texas Tech University, University of Oklahoma's, Louisiana State University and Colorado School of Mines, Department of Education, US Bureau of Labor Statistics, Colorado School of Mines, Journal of Petroleum Technology, of Petroleum Technology, Texas Tech, CFA Institute, Education

☆ How Abu Dhabi's $276 billion Mubadala sovereign wealth fund is investing in software in the new age of AI
▼ + stars: | 2023-07-26 | by ( Alistair Barr | ) www.businessinsider.com time to read: +5 min

Ali Osman, head of technology and software investments at Abu Dhabi's giant Mubadala sovereign wealth fund, has invested steadily through it all and is not shying away from putting more money to work. He and his team focus on business software and specialize in private equity, making direct buyout investments and indirect bets through major PE firms. Osman works with many of the biggest and most successful PE firms in the tech space, including Thoma Bravo, TPG and Bain Capital. AI uncertainty and dataThe generative AI boom, and the rise of large language models, has introduced a major new variable to software investing. The other bottleneck is capital, basically the cash available to invest in software businesses.

Persons: Ali Osman, Mubadala, Osman, Thoma Organizations: Abu, Thoma Bravo, TPG, Bain Capital, Vista Equity Partners, PE Locations: Morocco, SalesLoft, mindspace

☆ The top 19 metro areas where real-estate demand is heating up, signaling home-value increases — and 20 where it's slowing the most — according to Redfin
▼ + stars: | 2023-07-18 | by ( Laila Maidan | ) www.businessinsider.com time to read: +4 min

A second metric the firm uses is the difference in weighted compete score, which measures the direction the market is trending in. It's based on a year-over-year change in the overall compete score. A good way to look at the data is by considering both the overall score and the changing score. Marr says investors should pay more attention to the difference in the compete score, and specifically, areas that are facing steep increases versus declines. Below is a list of June's year-over-year difference in weighted compete score listed from lowest to highest positive change and the overall weighted compete score.

Persons: Taylor Marr, Marr, it's Organizations: MLS, Boston Locations: East, Redfin, It's, Lake County , Illinois, Chicago, Austin, Nashville, Las Vegas, Phoenix, Montgomery County, Columbus, Baltimore, Elgin, IL, Louis, Camden, NJ, Akron, York, NY, Providence, RI, Madison, WI, Haven, Newark , NJ, Bridgeport, County, Hartford, Milwaukee, Cincinnati

☆ The BBC Aired Saturation Coverage of Anchor’s Behavior. Was It Too Much?
▼ + stars: | 2023-07-13 | by ( Mark Landler | More About Mark Landler | ) www.nytimes.com time to read: +1 min

There were urgent NATO meetings about the war in Ukraine, raging floods from India to Vermont, and a record heat wave across America. But this week the BBC wound up airing wall-to-wall coverage of a different story: itself. The confirmation that Huw Edwards, a prominent BBC anchor, was the unnamed person at the heart of allegations of sexual misconduct ended days of breathless speculation that consumed Britain’s public broadcaster. Yet it left a lingering sense of unease about the role of the British news media — and its even more intrusive cousin, social media — in the unmasking of a public figure. The allegations were salacious, to be sure — catnip for the British press — and the BBC was trying to show journalistic integrity by not shying away from embarrassing news about a member of its own staff.

Persons: Huw Edwards, Edwards Organizations: BBC Locations: Ukraine, India, Vermont, America

☆ Chart analyst Katie Stockton shares how to play Nvidia at these levels
▼ + stars: | 2023-07-12 | by ( Samantha Subin | ) www.cnbc.com time to read: +2 min

After a blowout performance to start the year, shares of Nvidia are showing signs of "upside exhaustion" and that could spell some near-term trouble ahead, according to Fairlead Strategies' Katie Stockton. The chart analyst told CNBC's " Pro Talks " on Wednesday that certain technical indicators suggest that Nvidia may soon enter a "corrective phase" that could lead to a slight pullback in shares, and recommended shying away from adding to positions right now. Nvidia shares have nearly tripled in 2023 as Wall Street bets on the semiconductor giant as the artificial intelligence giant to topple. Like Stockton, Paul Meeks, a portfolio manager at Independent Solutions Wealth Management, recommends holding Nvidia shares. Right now I'd just hold it, though it is my best AI pick."

Persons: Katie Stockton, CNBC's, there's, Paul Meeks, Meeks Organizations: Nvidia, Independent Solutions Wealth Management Locations: Stockton

☆ The BBC is unflinching in its coverage of the scandal facing one of its top anchors
▼ + stars: | 2023-07-12 | by ( Oliver Darcy | ) edition.cnn.com time to read: +3 min

CNN —The BBC is ensnared in scandal — and its reporters are not shying away from covering it. On Tuesday, the British news organization broke news that a second young person had come forward to accuse one of its anchors — who still remains unnamed — of inappropriate behavior. The BBC reported that the person, whom the outlet described as in their 20s, was threatened by the host on an online dating app. The news came amid explosive allegations that the same BBC anchor paid a young person starting at age 17 for explicit photos. “And like with any other organization, BBC News has to ask BBC management or BBC services for responses and contact the BBC press office for official statements.”The note continues, “Occasionally BBC journalists approach senior managers for unplanned interviews - known as ‘doorsteps’ in the news business.

Organizations: CNN, BBC, BBC News, Fox News, Voting Locations: British

☆ A.I. enthusiasm drove up stocks this year. Here's how investors can catch the next opportunity
▼ + stars: | 2023-07-02 | by ( Samantha Subin | ) www.cnbc.com time to read: +6 min

Six months later, the promise of generative AI has boosted the Nasdaq Composite 31.7%, notching its best first half since 1983 . Betting on Nvidia Nvidia took Wall Street by storm this year. No matter how AI evolves, Nvidia was seen by many investors as a main beneficiary. Even with the stock's stellar performance, and recent entrance into the $1 trillion market cap club, investors aren't shying away just yet. "There will be an opportunity to get into some of these stocks at probably better levels than you're at now," Szilagyi said.

Persons: ChatGPT, Ken Mahoney, Mahoney, Jan Szilagyi, aren't shying, Sylvia Jablonski, Paul Meeks, Meeks, it's, Jordan Stuart, Eli Lilly's Mounjaro, Stuart, Szilagyi Organizations: Microsoft, Nasdaq, Nvidia, Meta, Apple, Mahoney Asset Management, Nvidia Nvidia, Nvidia —, Independent Solutions, Management, Investors, Big Tech, Federated Hermes, Novo Nordisk's Ozempic Locations: Hong Kong

☆ Mark the day: Modi fielded live questions from the press.
▼ + stars: | 2023-06-22 | by ( Mujib Mashal | ) www.nytimes.com time to read: +1 min

It’s vanishingly rare for Narendra Modi to directly field live questions from the press throughout a near decade in power. So when the Indian prime minister took two questions from reporters at a White House press event with Mr. Biden on Thursday, it was a notable moment. Mr. Modi’s aides insist that social media, which his party’s vast communications apparatus has mastered, has made news conferences redundant. Mr. Modi’s shying away from media engagement goes back to his time as chief minister of Gujarat decades ago. Under his watch, the state broke into widespread riots in 2002, and Mr. Modi was accused of looking away — or even enabling — Hindu mobs who went on deadly rampages in Muslim neighborhoods.

Persons: Narendra Modi, Biden, Modi, Modi’s Organizations: White House, Mr Locations: Gujarat

☆ Can't explain why investors are shying away from China stocks 'based on fundamentals': Brendan Ahern
▼ + stars: | 2023-06-20 | 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 EmailCan't explain why investors are shying away from China stocks 'based on fundamentals': Brendan AhernBrendan Ahern, KraneShares CIO, joins 'Fast Money' to talk U.S.-China relations, a leadership shakeup within Alibaba, and more.

Persons: Brendan Ahern Brendan Ahern Organizations: KraneShares Locations: China, Alibaba

☆ Consumers keep traveling despite recession fears and inflation
▼ + stars: | 2023-06-02 | by ( Leslie Josephs | ) www.cnbc.com time to read: +3 min

Prices for airline tickets, for example, were down 0.9% in April from a year ago, according to the latest federal inflation read. A round-trip domestic flight is averaging $306 this summer, down 19% from last year, though still 6% higher than in 2019, according to travel site Hopper. Lodging also has been more expensive this year, even within the U.S. Hotel occupancy averaged 60.6% from January though April, with per-night average rates of $152.68, according to hotel data firm STR. That's up from 63% occupancy and average nightly rates of $130.05 during the same period in 2019, and up from 58.4% occupancy and average rates of $141 a night last year. Nightly hotel rates for Maui, Hawaii, have increased more than 53% since 2019 to $535.90, the biggest percentage increase in the U.S., according to STR.

Persons: Francesco Riccardo Iacomino, Jason Gaughan, Hopper Organizations: Deloitte, Transportation Security Administration, American Airlines, Bank of America, U.S Locations: U.S, Europe, Airfare, Maui, Hawaii, San Jose, Santa Cruz, California

☆ Twitter's new CEO joked that it was 'game on' as Instagram reportedly works on a competitor, while other staff poked fun at rival's outage
▼ + stars: | 2023-05-22 | by ( Pete Syme | ) www.businessinsider.com time to read: +2 min

Meta is working on a Twitter competitor called "P92" which could be released next month, per Bloomberg. Twitter's new CEO, Linda Yaccarino, tweeted "Game on!" And as Instagram suffered an outage, Elon Musk and his staff couldn't help but comment. Instagram is reportedly working on a new competitor to Twitter, and employees of Elon Musk's company aren't shying away from the contest. It reported that users would log in with their Instagram details, and the app would use decentralized servers like Mastodon.

☆ Investors Flock to Safety Plays, but Stock ‘FOMO’ Lingers
▼ + stars: | 2023-05-07 | by ( Eric Wallerstein | ) www.wsj.com time to read: 1 min

Investors are trying to play offense and defense at the same time. Money managers are shying away from risk, turning to defensive stocks and Treasurys in their hunt for safe places to invest their cash. Yet they appear equally worried about missing out on a potential stock-market rally. Institutional investors’ allocations to equities remain above the long-term trend, and their cash holdings aren’t out of line with historical averages either, State Street data show.

Instead, fixed income, which was unpopular when rates were low, is back in favor and seeing strong capital flows into products like bond funds, said fund managers at the Milken Institute Global Conference this week. Attendees also discussed whether federal regulators should raise FDIC deposit insurance after First Republic Bank was seized and sold to JPMorgan, and how markets will react to even higher interest rates and potentially more market volatility. Others warned that companies will soon have to refinance their debt at higher rates, making them less attractive. Instead, thanks to higher interest rates, fixed income is once again playing a bigger role in portfolios. "The Fed has helped us put the income back in fixed income," said Anne Walsh, Chief Investment Officer for Guggenheim Partners Investment Management.

"I don't have the brain for stock investments, and I am waiting to redeem mutual fund products once they break even. The interest in precious metals is a worrying indicator that China's efforts to revive its economy via domestic spending, after years of strict COVID curbs, may not be working. Households savings grew by 9.9 trillion yuan in the January-March period, after rising a record 17.8 trillion yuan in 2022. In 2021, they grew by 9.9 trillion yuan. "Economic fundamentals, risk aversion and the recovery of domestic consumption all drive the investment demand for jewellery and precious metals," said Pang Xichun, research director at Nanjing RiskHunt Investment Management Co.

☆ U.S. Supreme Court Justice Thomas' career marked by controversies
▼ + stars: | 2023-04-07 | by ( Richard Cowan | ) www.reuters.com time to read: +4 min

WASHINGTON, April 7 (Reuters) - Clarence Thomas' career as a U.S. Supreme Court justice began following one of the most contentious confirmation battles in Senate history and 32 years later this conservative champion continues to draw controversy. As one of the most conservative justices in a conservative-heavy Supreme Court, Thomas has been a lightning rod for liberals who have been frustrated by his rulings and his tone. Just last summer, Thomas sparked an uproar on the heels of the Supreme Court overturning the landmark Roe v. Wade ruling, which established the right to abortion. Amid outrage among Democrats in Congress, Thomas said Supreme Court precedents protecting rights to contraception, same-sex intimacy and gay marriage ought to be reconsidered in future cases. Thomas, only the second Black justice to serve on the highest U.S. court, is known for not shying away from controversy, despite an almost Sphinx-like demeanor during Supreme Court sessions.

☆ Dollar slumps as banking crisis chips away at its haven status and makes further Fed rate hikes a coin flip
▼ + stars: | 2023-03-23 | by ( George Glover | ) www.businessinsider.com time to read: +3 min

The US dollar has slipped 2% over five trading days as the banking crisis rattles investors. The collapse of SVB and Signature Bank may threaten the greenback's haven status, one analyst said. The buck's run of losses follows the collapse of Silicon Valley Bank and Signature Bank earlier this month. The Fed shying away from hikes could also weigh on the dollar. Read more: The Fed's latest move confirms it's trying to thread the needle between cooling inflation and helping banks in turmoil

☆ Fox News producer files explosive lawsuits against the network, alleging she was coerced into providing misleading Dominion testimony
▼ + stars: | 2023-03-21 | by ( Oliver Darcy | ) edition.cnn.com time to read: +5 min

New York CNN —A Fox News producer on Monday filed a pair of explosive lawsuits against the right-wing talk channel, alleging that the network’s lawyers coerced her into providing misleading testimony in Dominion Voting Systems’ $1.6 billion defamation case against the company. The lawsuits from Grossberg, who has since been placed on administrative leave by Fox, were filed in Delaware Superior Court and the U.S. District Court for the Southern District of New York. “It’s another example of Fox News not only shying away from the truth, but attempting to bury the truth,” Filippatos told CNN. Grossberg named Carlson and members of his staff in the lawsuit filed in New York. “I’ve covered many stories while I have been there,” Grossberg told CNN.

☆ Real-estate investors seized upon a tried-and-true strategy to fix up homes and make money. Then the market turned.
▼ + stars: | 2023-03-05 | by ( Aj Latrace | ) www.businessinsider.com time to read: +6 min

One way: buy a home, fix it up to rent out, then refinance to get cash and buy the next one. "We looked at long-term rent and we would have been in the hole a few hundred dollars per month based on interest rates and property taxes," Holland told Insider. But a perfect storm of softening home prices, increasing taxes, higher mortgage rates, and steep building-material costs has made the BRRRR model less attractive to investors. When the BRRRR numbers don't work, Holland said, there are a few strategies investors could consider instead. But even that strategy has its own competitive advantages and disadvantages, she said, such as seasonality and uncertain income.

☆ Norwegian Cruise Line says wealthy customers are still splashing out on cruise trips despite the sluggish economy
▼ + stars: | 2023-03-01 | by ( Grace Dean | ) www.businessinsider.com time to read: +4 min

The parent company of Norwegian Cruise Line says passengers are still splurging on luxury trips. There's no indication that consumers are "shying away from taking cruise vacations," its CEO said. "We simply haven't seen any indication that the consumer is shying away from taking cruise vacations," Frank del Rio, the CEO of Norwegian Cruise Line Holdings, said at its earnings call Tuesday. The Miami-based company owns Norwegian Cruise Line, Regent Seven Seas, and Oceania, which currently have 29 ships between them. Del Rio said that Norwegian Cruise Line reported record sales in November, in part because of Black Friday and Cyber Monday sales.

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