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☆ Dollar drifts, risk-sensitive currencies lifted by China optimism
▼ + stars: | 2024-09-27 | by ( ) www.cnbc.com time to read: +4 min

The dollar wobbled on Friday, poised for a fourth straight week of declines as investors weighed U.S. data to gauge the pace of interest rate cuts, while China's spree of stimulus measures kept risk-sensitive currencies aloft. The dollar wobbled on Friday, poised for a fourth straight week of declines as investors weighed U.S. data to gauge the pace of interest rate cuts, while China's spree of stimulus measures kept risk-sensitive currencies aloft. "This suggests a more cautious approach to interest rate cuts, prioritizing a balance between the Fed's employment mandate and keeping an eye on inflation risks." The risk-sensitive Australian and New Zealand dollars also held near multi-year highs due to China stimulus plans. AUD/On Thursday, China's leaders pledged to support the struggling economy through "forceful" interest rate cuts and adjustments to fiscal and monetary policies, stoking expectations for more stimulus.

Persons: Ryan Brandham, Sterling, China's Organizations: Federal Reserve, North America, Validus Risk, New, Communist Party, ING Locations: U.S, China, New Zealand

☆ Eric Adams faces pressure to resign as New York Democrats plot next moves
▼ + stars: | 2024-09-26 | by ( Gregory Krieg | ) edition.cnn.com time to read: +13 min

CNN —New York City Mayor Eric Adams, the rank-and-file transit cop who rose to the city’s most powerful office, is no longer the master of his political destiny. President Joe Biden, asked at the White House on Thursday if Adams should resign, said, “I don’t know.”What will Jeffries do? “We need Eric Adams to be successful as mayor because he is the mayor at this moment in time,” Jeffries said. “No one is above the law, including the Mayor of New York City,” Schumer said in a statement. “This is squarely about Mayor Adams’ ability to govern New York City, and for the New York City governance to be fully staffed to serve the people of New York City,” Ocasio-Cortez told reporters Wednesday afternoon on Capitol Hill before news of the indictment broke.

Persons: Eric Adams, Adams, brazenly, –, “, Damian Williams, ” Williams, ”, ” Adams, Adams ’, Ingrid Lewis, Martin, Frank Carone, Carone, Jumaane Williams, ” Carone, “ It’s Eric Adams, Kathy Hochul, Hochul, Joe Biden, Jeffries, Hakeem Jeffries, ” Jeffries, Hakeem, Laura Gillen, Anthony D’Esposito, you’re, you’ve, ” Gillen, Chuck Schumer, ” Schumer, Scott Stringer, Brad Lander, Sen, Zellnor Myrie, ” Myrie, ” Stringer, ” Lander, Alexandria Ocasio, Cortez, Mayor Adams, ” Ocasio, Bob Holden, Adams ’ White, ” Holden, Chris Banks, ” Banks, Julia Salazar, Gustavo Rivera, Jabari, Phara Souffrant Forrest, Emily Gallagher, Brooklyn, Tiffany Caban, Alexa Aviles, Sandy Nurse, Chi Osse, ” Councilwoman Vickie Paladino, Andrew Cuomo, Cuomo, “ Cuomo, “ He’s, ” Cuomo, Rich Azzopardi, hasn’t, CNN’s Gloria Pazmino Organizations: CNN, New, New York City, Democratic, New York Times, Southern, of, Gracie, White, Brooklyn Democrat, Republicans, New York Democratic, New York, Republican, Washington D.C, Yorkers, Rep, Queens, State Locations: New York, New, of New York, ”, Brooklyn, Washington, South Shore, New York City, Alexandria, City, Queens, Holden’s, Brownsville, East New York, Sens

☆ Swiss central bank cuts rates by a quarter point in third trim this year
▼ + stars: | 2024-09-26 | by ( Ruxandra Iordache | ) www.cnbc.com time to read: +4 min

A view of the headquarters of the Swiss National Bank (SNB), before a press conference in Zurich, Switzerland, March 21, 2024. It was the first major Western central bank to reduce interest rates back in March. Domestically, Swiss inflation remains subdued, with the latest headline print pointing to a 1.1% annual increase in August. Further cuts in the SNB policy rate may become necessary in the coming quarters to ensure price stability over the medium term," it added. He added that the central bank may nevertheless have to reduce rates again to retain inflation in the 0-2% target range.

Persons: exacerbation, Swissmem, SNB, Kyle Chapman, Chapman, Thomas Jordan, Jordan, Adrian Prettejohn, Prettejohn Organizations: Swiss National Bank, European Central Bank, U.S . Federal Reserve, Swiss, U.S ., ING, Ballinger Group, Reuters, Capital Economics Locations: Zurich, Switzerland, Swiss, Europe

Pop star Chappell Roan revealed in a TikTok video Wednesday that she’s voting for Vice President Kamala Harris in November, though she stopped short of endorsing the Democratic presidential candidate. The singer-songwriter’s announcement followed an intense and dayslong online backlash from her liberal fanbase. Others called her a “closet Republican.”In response to the backlash, Roan released a TikTok video Tuesday saying she was not voting for former President Donald Trump, though that message did little to quell the fan fury. Visibly frustrated with her critics, Roan on Wednesday tried to clear the air for good on where she stands on the 2024 election. “Team PopFlop is sincerely apologising for the post regarding Chappell Roan’s issues with endorsement,” the account, which has over 36,000 followers, said.

Persons: Chappell Roan, Kamala Harris, Roan, ”, Donald Trump, “ I’m, you’re, ” Roan, Kamala, “, Harris, Roan’s, Brian Hughes, Trump, —, I’ll, PopFlop, Chappell Organizations: Democratic, Guardian, Republican, Governors Ball Music, White, ”, NBC Locations: Gaza, Israel, Pennsylvania , Wisconsin, Georgia, New York City

☆ 'Don't fight the Fed': Barclays and Citi turn bullish on these stocks after rate cut
▼ + stars: | 2024-09-25 | by ( Ganesh Rao | ) www.cnbc.com time to read: +2 min

The move prompted Wall Street giants Barclays and Citi to adopt a more optimistic stance on global cyclical stocks. Barclays believes the Federal Reserve's actions are "clearly designed to pull out all the stops to achieve a soft landing" for the economy. Barclays strategists noted that "cyclicals typically rebounded steadily after the Fed started its rate cut cycle ... as long as it was not followed by a recession." Citi strategists share a similar outlook for European stocks. "The scale of the downgrades has become so extreme of late that we're now approaching a point where negative ERI may be a useful contrarian indicator," the Citi strategists said.

Persons: Emmanuel Cau, Beata Manthey, we're, Safran, Atlas, — CNBC's Michael Bloom Organizations: Federal Reserve, Wall Street, Barclays, Citi, Fed, Siemens, BBVA, ING, Holcim, ASM Locations: United States

☆ China central bank releases slate of support measures amid a deepening economic slump
▼ + stars: | 2024-09-24 | by ( Evelyn Cheng | Evelyn Cheng Is A Senior Correspondent With Cnbc. | ) www.nbcnews.com time to read: +6 min

Lynn Song, chief economist for greater China ING, called the repo rate cut announcement “the most important” move made during the news conference. “If we see a large fiscal policy push as well, momentum could recover heading into the fourth quarter.”The headquarters of the People’s Bank of China in Beijing. During his first news conference as central bank governor in January, Pan said the PBOC would cut the reserve requirement ratio. Unlike the Fed’s focus on a main interest rate, the PBOC uses a variety of rates to manage monetary policy. Pan has indicated he would like the 7-day rate to become the main policy rate.

Persons: Pan Gongsheng, Pan, Lynn Song, ”, “, Jiang Qiming, ” Edmund Goh, Goldman Sachs, Li Yunze, Li, Nomura Organizations: People’s Bank of China Gov, China ING, “, U.S . Federal Reserve, People’s Bank of China, China News Service, Getty, Pan, National Financial Regulatory Administration Locations: BEIJING, China, Beijing, abrdn

☆ Leaders from the CIA, Dell Technologies, HP, SageCXO, and ezCater share how they keep up with AI development
▼ + stars: | 2024-09-24 | by ( Helen Li | Emma Cosgrove | ) www.businessinsider.com time to read: +14 min

John Roese, the global chief technology officer and chief AI officer of Dell Technologies. In the long term, those two have to come closer together to achieve the speed necessary for an AI cycle. So the quality of what you produce in your organization as a CTO — if you're going to provide models built in-house — better be superstar quality, or no one's using it. Once you understand that those are high level, then you have to ask if you are actually on a path where if you apply AI, you're going to get to an outcome. DeCesare: I've been most inspired to drive the leverage of AI through the company by finding out how people have applied it.

Persons: Emma Cosgrove, La'Naia Jones, John Roese, Elaine Zhou, Faisal Masud, Erin DeCesare, What's, it's, Claude, It's, She's, ChatGPT, Cosgrove, we've, cocreate, that's, We've, Masud, That's, they're, Jones, You've, Everyone's, Aaron, Jensen, Huang, I've Organizations: Business, BI's, CIA, Dell Technologies, HP, Star, Amazon, Nvidia Locations: Spain, Madrid, Silicon

☆ China just released aggressive measures to boost its economy — but some analysts say it's still not enough
▼ + stars: | 2024-09-24 | by ( Huileng Tan | ) www.businessinsider.com time to read: +4 min

"Today's policy measures are bold by historical standards," Betty Wang, the lead economist at Oxford Economics, wrote in a note on Tuesday. Stimulus measures don't address consumptionDespite the fanfare, analysts are divided over whether the moves that ease monetary policy constitute a massive "bazooka" stimulus. AdvertisementMost say the monetary easing policies don't address the lack of confidence contributing to depressed consumer spending. China has pulled out multiple support measures this year to shore up its economy and stock markets, but any kneejerk optimism has been shortlived. Advertisement"Overall, we feel today's measures are a step in the right direction, especially as multiple measures have been announced together rather than spacing out individual piecemeal measures to a more limited effect," Lynn Song, the Greater China chief economist at ING bank, wrote on Tuesday.

Persons: —, Pan Gongsheng, Pan, Betty Wang, Wang, it's, Nomura, Lynn Song Organizations: Service, People's Bank of China, Business, Analysts, Oxford Economics, CSI, Nomura, ING Locations: Beijing, China, Greater China

☆ A bid to change the electoral math hits a roadblock: From the Politics Desk
▼ + stars: | 2024-09-23 | by ( The Politics Desk | ) www.nbcnews.com time to read: +7 min

In today's edition, our team breaks down a key Nebraska state senator's decision to stand in the way of a Trump-backed drive to change how the state allocates its electoral votes. Trump allies have pushed for a special legislative session intended for the Republican-controlled legislature to change Nebraska to a winner-take-all system instead of awarding electoral votes by congressional district. The developments appear to cap months of deliberations over whether Nebraska lawmakers could change the way the state apportions its electoral votes in a way that would benefit Trump. Nebraska allocates its electoral votes by congressional district, and the swing district around Omaha has twice gone to Democrats in recent years, giving them one electoral vote from an otherwise ruby-red state. But if lawmakers changed that to a winner-take-all model, Trump would be all but certain to win all of Nebraska’s electoral votes.

Persons: Jonathan Allen, Bridget Bowman, Adam Edelman, Katherine Doyle, Allan Smith, Ben Kamisar, Donald Trump, Sen, Mike McDonnell, Trump, Kamala Harris, Mark Murray, Democratic Party — Harris, Harris, —, Biden’s favorability, Harris ’, Trump’s favorability, Trump’s, ”, Jeff Horwitt, J D, Joh, Hou, ari, us jobs, Rea Organizations: NBC, White House, Capitol, Trump, Key, Key Nebraska Republican, Nebraska Republican, Republican, NBC News, Nebraska, Electoral, Democratic Party, Democrats, Democratic, New York Times, aig Locations: Nebraska, Key Nebraska, “, Omaha, Michigan, Pennsylvania, Wisconsin, Siena, Arizona , Georgia, North Carolina

☆ A stunning sterling rally is about to collide with Britain's political realities
▼ + stars: | 2024-09-23 | by ( Jenni Reid | ) www.cnbc.com time to read: +4 min

Sterling breached $1.33 against the greenback for the first time since March 2022 on Thursday, and was trading at $1.3315 early London time Monday. The pound's rally was tied to the BOE communication and "looks fully justified," Chris Turner, global head of markets at ING, said in a Friday note. Higher rates are traditionally a positive for a domestic currency as the higher yield can attract more foreign capital. watch nowGabriella Dickens, G7 economist at AXA Investment Managers, also cautioned on the pound's outlook in a note Thursday. If the government is more stringent on fiscal policy, we think the Bank will be forced to increase the pace of the cutting cycle to offset the hit on both households' and businesses' finances."

Persons: Keir Starmer, BOE, Chris Turner, Turner, Jane Foley, Gabriella Dickens, Dickens Organizations: Bank of England, Labour, Sterling, greenback, London, ING, Fed, U.K, European Union, Rabobank London, CNBC, AXA Investment, Bank, quicken Locations: Britain, –

Another co-defendant named Ryan Samsel — who was holding a giant flag portraying Trump as "Rambo" before he assaulted officers on Jan. 6 — will be sentenced on Feb. 4, 2025. Stephen Chase Randolph on Jan. 6. Among them: David Dempsey, who repeatedly assaulted officers inside the lower west tunnel to the Capitol, received 20 years; Peter Schwartz, received 14 years; Danny "D.J." Capitol Police Officer Caroline Edwards testifies during a Jan. 6 Committee hearing. After his arrest, federal authorities said Randolph downplayed his behavior and lied during his custodial interview with the FBI.

Persons: WASHINGTON, Donald Trump, Stephen Chase Randolph, Randolph's, James Tate Grant, Jason Benjamin Blythe, Paul Russell Johnson, Ryan Samsel —, Trump, Rambo, Jan, Randolph, David Dempsey, Peter Schwartz, Danny, D.J, Rodriguez, Michael Fanone, Christopher Quaglin, Thomas Webster, Blythe, Johnson, Samsel, Caroline Edwards, Edwards, banister, ” Edwards, “, Win McNamee, ” Randolph, Joe Biden, yay, It’s, ”, Ronald Reagan, Royce Lamberth Organizations: Capitol, Capitol Police, U.S, District of Columbia, New York City Police, FBI, District Locations: Kentucky, Grant, Washington, Washington ,

"If he drops out of the race, it helps the state of North Carolina," added Jackson, who is running to be the state's next attorney general. Under state law, if Robinson were to end his campaign, the state executive committee of the North Carolina GOP would name his replacement. And in March, during a speech at the National Rifle Association conference, Trump called Robinson “Dr. And he got up and he’s doing fantastically well in North Carolina. And I think he’s going to be the next governor of North Carolina.”

Persons: Mark Robinson, Robinson, ”, ” Robinson, Josh Stein, Rep, Marjorie Taylor Greene, Jeff Jackson, Jackson, Izzi Levy, Donald Trump, “, ” Stein, Stein, Trump, Robison, Mark’s, He’s, ” Trump, Dr, Martin Luther King Organizations: Republican, CNN, NAZI, Democratic, Capitol, ”, Democratic Governors Association, Republican Governors Association, Republican National Convention, North Carolina Board, North, GOP, NBC News, Quinnipiac University, Republicans, National Rifle Association Locations: North Carolina, Georgia, D, Africa, Asheboro , North Carolina

☆ I added my divorce to my LinkedIn profile — here's why
▼ + stars: | 2024-09-18 | by ( Karl Dunn | ) www.businessinsider.com time to read: +6 min

My divorce was the worst job I've ever had. So, like any job I've had, I decided to put my divorce on my LinkedIn résumé. I added my divorce to my LinkedIn 2 weeks agoDivorce hits different people differently. When I had the idea to put my divorce on my LinkedIn, I debated it for weeks. AdvertisementSo while divorce was the worst job I ever had, it was also one of my greatest teachers, which is why I put it on my CV.

Persons: —, I've, That's, couldn't, doesn't, who's, I'd, Karl Dunn Organizations: Service, Business, Hearst Publications, LinkedIn Locations: America, California, Berlin, Los Angeles

☆ Here are Tuesday's biggest analyst calls: Nvidia, Palantir, Amazon, Shopify, Walmart, Microsoft, Palantir, Tesla & more
▼ + stars: | 2024-09-17 | by ( Michael Bloom | ) www.cnbc.com time to read: +7 min

Bank of America reiterates Amazon as buy Bank of America said it's sticking with its buy rating on Amazon following CEO Andy Jassy's letter to employees on Monday. Bank of America adds Palantir to the US1 list Bank of America added the stock to its top picks list. Bank of America reinstates Carvana as buy Bank of America resumed coverage of Carvana and upgraded it to buy saying it sees accelerating growth. Bank of America upgrades Hewlett Packard Enterprise to buy from neutral Bank of America said shares of the company are "attractive." Bank of America upgrades GE Vernova to buy from neutral Bank of America said it sees a "power surge" for the stock.

Persons: Oppenheimer, Andy Jassy's, Andy Jassy, Bernstein, Tesla, underperform Bernstein, Redburn, LSCC, Ford Tamer, Mizuho, DELL, Morgan Stanley, Virgin, Jefferies, it's bullish, JEF, ARMK, Baird, BTIG, " Jefferies, SolarEdge Organizations: Nvidia, " Bank of America, Bank of America, Semiconductor, Stifel, Board, Dell, JPMorgan, ViaSat, United Airlines, Viasat, IFC, Virgin Galactic, Virgin, Citi, UBS, APP, RBC, Baird Conference, Burger, Walmart, Technologies, Healthcare, Barclays, D, WEC, Hewlett Packard Enterprise, of America, Hewlett, Packard Enterprise, GE, Gas Power Services Locations: Europe

☆ Jane's Addiction cancels tour after Perry Farrell, Dave Navarro fight
▼ + stars: | 2024-09-16 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms Variety-Live-Blog-Byline-Image.Png | ) www.nbcnews.com time to read: +15 min

The remainder of the reunion tour by the original lineup of Jane’s Addiction, the group’s first in 14 years, has been canceled. At that point, Farrell was seen throwing a punch at Navarro, though it wasn’t clear from the footage whether it really landed. While Dave was keeping Perry at arm’s length to de-escalate the situation, Dan rushed over to de-escalate as well by holding Perry back. Farrell sang well, Perkins crushed it behind the kit, Navarro shredded and Avery anchored the band with his steady work on bass. … However, when it came to singing the songs, Farrell nailed most of them.”The tour by Jane’s Addiction was a co-headlining one shared with another veteran ’80s/’90s band, Love & Rockets.

Persons: Dave Navarro, Perry Farrell‘s, Farrell, ”, Navarro, Eric Avery, “, Perry Farrell, ” Navarro, Dave, Eric, Stephen, Perkins, Etty Lau Farrell, Avery, who’ve, —, hasn’t, Avery overreacted, Etty, Perry, cussing, ” Etty, Dan, Kevin, Eric nonchalant, “ Dave, “ Farrell, ” Farrell, JamBase, ’, Jane’s Organizations: Live Nation, Rockets, YouTube, Boston’s, Bank, Tampa, “, Jane’s, Hartford Healthcare, WI, Huntsville, South Star, UT, Sandy, WA, Veterans Memorial, Sierra, Sun, San Francisco , CA Locations: Bridgeport , Toronto, Rochester Hills, Milwaukee, Chicago, Indianapolis, Huntsville, St, Louis, Denver, Sandy, Seattle, Portland, Reno, San Francisco, Los Angeles, L.A, Connecticut, Boston, upstage, Florida, New York City, New York, Las Vegas, Bridgeport, CT, Hartford, Toronto, MI, White, — Reno, San Francisco ,, Los Angeles ,

☆ I moved from India to Europe for work and was living my dream. 10 years later, I walked away from it all.
▼ + stars: | 2024-09-16 | by ( Shubhangi Goel | ) www.businessinsider.com time to read: +5 min

Go to newsletter preferencesSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. I spent the next three years with the company in India, then moved to the company's office in Dubai for two years, and then to Amsterdam. I enjoyed being done with work by 5 or 6 p.m. and having the rest of the day to myself. I'd been watching India's growth since I left and felt like I had missed the boom by leaving in 2014. I also felt like there was no career growth for me in Europe.

Persons: —, Sarvesh Rajagopal, it's, I'd, I'm Organizations: Service, United Arab, McKinsey, Business, ING, Indian Institute of Management Locations: United Arab Emirates, Netherlands, Germany, India, Dubai, Amsterdam, Berlin, Europe, Ukraine, Latin America

Former President Donald Trump is planning to visit Springfield, Ohio, "soon," a source familiar with the planning told NBC News. “In Springfield, [Ohio], they’re eating the dogs. They’re eating the cats. They’re eating — they’re eating the pets of the people that live there. Officials in Springfield and in Ohio have resoundingly condemned all allegations that immigrants in the city have been eating pets.

Persons: Donald Trump, Trump, Ohio Sen, JD Vance, Kamala Harris, ” Trump, Trump’s, Vivek Ramaswamy, Mike DeWine, DeWine, Springfield Mayor Rob Rue, Rue, Vance, ” Vance, “, ”, Lara Trump, — Donald Trump Organizations: NBC News, Trump, Springfield Police Division, Ohio GOP Gov, ABC News, Springfield Mayor, NBC, Press, CNN, Republican National Committee, Fox News Locations: Springfield , Ohio, Springfield, Philadelphia, “, Ohio, . Ohio

☆ Same-sex marriage was on a roll in Asia. Not anymore
▼ + stars: | 2024-09-13 | by ( Chris Lau | ) edition.cnn.com time to read: +11 min

The winning formulaMore than 30 jurisdictions worldwide now recognize same-sex marriage, according to the Pew Research Center. Since the first same-sex marriage law was passed in the Netherlands in 2001, progress has been made mostly in Europe, the Americas and Australasia. Gay couples cut a wedding cake in Amsterdam on April 1, 2001 after the first same-sex marriage law was passed in the Netherlands. But on the national level, Japan does not recognize same-sex marriage and local courts have returned conflicting verdicts on the issue. Up to 68% of Japan’s adults support same-sex marriage, the highest share in Asia, according to the Pew Research Center.

Persons: Pokpong Jitjaiyai, ”, Pokpong, Watit Benjamonkolchai, Suen, Nadia Rahman, Marcel Antonisse, Kangwan Fongkaew, ” Kangwan, Jennifer Lu, ” Lu, Taiwan’s, Tsai Ing, Sanjit, Chanakarn Laosarakham, Carl Court, Asia’s, Anish Gawande, Narendra Modi, Gawande, Kazuhiro Nogi, –, Hiroshima’s, Scuffles, Andrew Kim, Roslan Rahman, Shawna Tang, Hong Kong’s, Peter Newman, ” Suen, CNN’s Samra, Yoonjung Seo, Aishwarya Iyer Organizations: Hong Kong CNN, Thailand’s Senate, CNN, Chinese University of Hong, Pew Research, Amnesty, Racial Justice, Refugees, Migrants, Getty, Burapha University, Presidential, List, Court, Japan, Seoul Queer Culture, Christian, Korea University’s College of International Studies, University of Sydney, Appeal, University of Toronto’s, Inwentash, Social Locations: Hong Kong, Bangkok’s, Siam, Thailand’s, Bangkok, Thailand, Southeast Asia, Taiwan, Nepal, Asia, Chinese University of Hong Kong, Netherlands, Europe, Americas, Australasia, Myanmar, Malaysia, Sri Lanka, Brunei, Bangladesh, Indonesia’s ultraconservative, Aceh, United Kingdom, Amsterdam, China, Kathmandu, AFP, Taiwan's, Taipei, India, List India, India’s, Delhi, Tokyo, Japan, South Korea, Daegu, Seoul, Korea, Singapore, aren’t, –, Beijing, Indonesia

☆ ECB to cut 'even more aggressively' in 2025 if the economy weakens, ING Bank says
▼ + stars: | 2024-09-13 | 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 EmailECB to cut 'even more aggressively' in 2025 if the economy weakens, ING Bank saysCarsten Brzeski, global head of macro research at ING Bank, discusses European Central Bank's interest rate cut, saying it was a "very dovish" one.

Persons: Carsten Brzeski Organizations: ECB, ING Bank

☆ Europe cuts interest rates again as economic recovery falters
▼ + stars: | 2024-09-12 | by ( Hanna Ziady | ) edition.cnn.com time to read: +3 min

London CNN —The European Central Bank (ECB) cut interest rates Thursday, lowering borrowing costs for the second time in recent months as inflation slows and Europe’s economy stumbles. The ECB cut rates for the first time in five years in June, but kept them unchanged at its last meeting in July. However, it marginally downgraded the outlook for economic growth in the eurozone to 0.8%, from 0.9% projected in June. “Financing conditions remain restrictive, and economic activity is still subdued, reflecting weak private consumption and investment,” the ECB said. Earlier this week, former ECB chief Mario Draghi said in a report that slowing economic growth and productivity present an “existential challenge” to Europe.

Persons: Bert Colijn, Christine Lagarde’s, Mario Draghi, Draghi Organizations: London CNN, European Central Bank, ECB, Olympic, Paralympic Games, P Global, Hamburg Commercial Bank, “, ING Locations: Germany, Paris, Europe, United States, China, EU

☆ Why Elon Musk Is Really Taking Twitter Out of San Francisco
▼ + stars: | 2024-09-12 | by ( Adam Rogers | ) www.businessinsider.com time to read: +13 min

From the front door of X, which is closing up shop in San Francisco on Friday, Market Street runs straight through downtown to the bay. Now, as X leaves its spot, Market Street is still suffering from all the same problems it had before Twitter. After handing over millions of dollars in tax breaks to one of the world's wealthiest corporations, San Francisco has nothing to show for it. AdvertisementI keep remembering a work trip I took to San Francisco in 1999, a few years before I moved here. "Our focus remains on working with and supporting the many businesses that call San Francisco home," the statement reads.

Persons: Daniel Burnham, Elon Musk, Twitter, Ted Egan, Bon Marché, Paula Smith Arrigoni, restaurateurs, Dolby, Twitter didn't, Egan, Uber decamped, Musk, San Francisco, Adam Rogers Organizations: Twitter, Central Market, Anadolu, Getty, AQ, Area, Coalition, Apple, New York Times, San, Sony, Microsoft, Ikea, London Breed, Business Locations: San Francisco, Austin, South Park, California, Brisbane, Texas, scuzzy, gentrify, Alta, Oro, Bon, Kaya, Bay, Oakland

☆ Paris mayor plan to keep Olympic rings on Eiffel Tower opposed by designer's family
▼ + stars: | 2024-09-11 | by ( Nancy Ing | Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms Alex-Smith-Circle-Byline-Template.Jpg | ) www.nbcnews.com time to read: +5 min

PARIS — There are few sights more iconic than the Eiffel Tower and the Olympic rings. The multicolored logo adorned the Eiffel Tower during the Paris 2024 Games, just as they had hung from London’s Tower Bridge in 2012 and the Sydney Harbour Bridge in 2000. However, Hidalgo announced in the French media Aug. 31 that the rings would stay on the Eiffel Tower, until at least 2028 and perhaps beyond. After days of mounting criticism, the Eiffel family weighed in. Nevertheless, the Eiffel family say they won’t climb down without a fight.

Persons: Paris Mayor Anne Hidalgo, Hidalgo, Gustave Eiffel, ” Myriam Larnaudie, “, It's, Paris, ” Hidalgo, Eiffel, Nancy Ing, Alexander Smith Organizations: Bridge, Paris Mayor, Olympic, city's, “, Eiffel, NBC News, London, Rio, International, The Association, IOC, Ouest Locations: Sydney, Tokyo, Paris, France, London

☆ The market is acting like Harris won last night's debate against Trump
▼ + stars: | 2024-09-11 | by ( Matthew Fox | ) www.businessinsider.com time to read: +3 min

Price action in the stock market suggests markets think Kamala Harris won Tuesday's debate. Investors reacted by selling assets tied to the "Trump trade," with declines in Trump Media stock and bitcoin. AdvertisementThe first Presidential debate between Kamala Harris and Donald Trump is over and markets have named the winner. Following Tuesday night's debate, markets are showing signs that Vice President Harris came out on top, with investors voting with their portfolios and selling assets tied to the so-called Trump trade. On the flipside, assets that could see a boost from a Kamala Harris presidency were up Wednesday.

Persons: Price, Kamala Harris, Trump, Harris, —, Donald Trump, Matthew Ryan, Ebury, it's Organizations: Trump Media, Service, Trump, Technology Group, Truth, cryptocurrency, ING, ING Economics

☆ A Neom executive reportedly complained about having a meeting on a Sunday evening after 3 workers died
▼ + stars: | 2024-09-11 | by ( Tom Carter | ) www.businessinsider.com time to read: +3 min

Read previewA Neom executive reportedly complained about having an emergency meeting on a Sunday evening following the deaths of three employees working on Saudi Arabia's megaproject estimated to cost between $500 billion and $1.5 trillion, according to a bombshell Wall Street Journal report. Wayne Borg, a former Fox Corp executive, reportedly described Neom's blue-collar workers from the Indian subcontinent as "f—ing morons" and said "that is why white people are at the top of the pecking order." This story is available exclusively to Business Insider subscribers. Citing current and former Neom employees, the Journal reported that three workers were killed by a falling pipe, a collapsing wall, and mishandled explosives. Neom told the Journal it has a zero-tolerance policy toward inappropriate workplace behavior.

Persons: —, Wayne Borg, we've, Borg, Prince Mohammed bin Salman's, Neom Organizations: Service, Saudi, Fox Corp, Business, Journal, BBC, Neom Locations: Saudi Arabia, Saudi

☆ Car giants are being forced to confront some hard truths over the EV transition
▼ + stars: | 2024-09-10 | by ( Sam Meredith | In Samuelmeredith | ) www.cnbc.com time to read: +5 min

The Swedish automaker said it now aims for between 90% and 100% of its car sales to be fully electric or plug-in hybrid models by 2030. "I think a lot of manufacturers are obviously going through this process [of delaying electrification targets] at the moment. The U.K., for instance, introduced a mandate that requires 22% of new car sales this year to be zero-emission vehicles (ZEVs). The mandate, which aims to reduce the number of polluting vehicles on the road, will rise annually until it reaches 100% of new car sales by 2035. A Volkswagen ID4 electric car charges at a charging station in a parking lot at Autostadt Wolfsburg.

Persons: Brandon Bell, Tim Urquhart, CNBC's, we're, Urquhart, carmaker, BEV, —, it's, Rico Luman Organizations: Volvo, Hill, Getty, Wednesday, Volkswagen, Ford, Benz Group, P Global Mobility, Volvo Cars, Autostadt Wolfsburg, Volkswagen AG, BEVs, European, ING Locations: Austin , Texas, China, Swedish, Europe

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