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☆ 'Shark Tank' star Kevin O'Leary once told a student to choose his business over his fiancée as she was 'easier to replace'
▼ + stars: | 2024-10-05 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +3 min

If the person you're dating makes you choose between them and your business, pick your business. AdvertisementIf the person you're dating forces you to choose between your business and them, you should probably cut them loose, Kevin O'Leary says. "I just can't because I'm so busy and I've got to keep my business going, I've got to graduate my degree. I'm going to guess that if you can't work this out, you're going to just do fine." "You're obviously going to be wildly successful, you're going to get somebody else."

Persons: Kevin O'Leary, —, O'Leary, Logan Paul, That's, I've, Phil, She's, " O'Leary, that's, he's, He's Organizations: Service, LinkedIn

☆ 'Inflation is not dead': Consumer prices are still in focus for investors despite the Fed's labor-market pivot
▼ + stars: | 2024-10-05 | by ( Filip De Mott | ) www.businessinsider.com time to read: +4 min

The upcoming inflation report will help determine the Fed's next move. Friday's surprisingly strong jobs data has slashed bets of a half-point rate cut. AdvertisementBut with September's jobs report crushing expectations, concerns may have been premature. AdvertisementHow inflation data could compound these forecasts will be known on Thursday, when the CPI report comes out. Still, with inflation still slightly above the central bank's 2% target , some analysts are cautioning investors not to forget about price pressures.

Persons: Friday's, —, it's, they're, Mohamed El, Erian, Brian Rose, Seema Shah Organizations: UBS, Service, US, Bloomberg, CPI, Fed, Bank of America, Barclays

The virtual event, organized by Emgage Action, which endorsed Vice President Kamala Harris last week, was the most direct pitch yet to conflicted Muslim and Arab voters from her or Walz. “As-Salaam-Alaikum,” Walz said on the call, using the Arabic greeting, before he turned to the war on many Arab and Muslim voters’ minds. Some Muslim activists and elected officials they say are disappointed to have heard little from the Harris campaign since then. During the campaign, some disaffected Muslim and Arab voters have flocked to third-party candidates like Jill Stein and Cornel West, both of whom picked Muslim running mates and have courted pro-Palestinian voters. “We understand that some Muslim voters, any voter, may feel a moral dilemma voting for [Harris].

Persons: Tim Walz, Harris, Kamala Harris, Walz, ” Walz, “, ”, Donald Trump’s, Joe Biden’s, they’re, Jill Stein, Cornel West, Trump, Wa’el Alzayat, Donald Trump, Mohamed Gula, we’re, Keith Ellison, Biden, “ Kamala Harris, Biden ”, ” Ellison, Andy Levin, —, Rosh Hashanah, Ro Khanna, Benjamin ] Netanyahu, ” Khanna Organizations: Democratic, Biden, Emgage, Harris, Lebanese, Israel, Democratic National Convention, Cornel, Minnesota, Palestine, ” Locations: Washington, Lebanon, Minnesota, Gaza, “, Israel, Michigan, Hamtramck , Michigan, U.S, United States, Rosh

☆ Wider Middle East conflict threatens the global economy — when the US and China already face headwinds, experts say
▼ + stars: | 2024-10-04 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +6 min

The widening conflict in the Middle East threatens to crimp growth and stoke inflation, experts say. AdvertisementExperts say the escalating war in the Middle East could choke global economic growth and reignite inflation, just as the US is dealing with the aftermath of Hurricane Helene, and China is trying to stabilize its beleaguered economy. "War in the Middle East could exacerbate the instabilities in the global economy, further increase the uncertainties, harm disinflationary efforts, and eventually reduce the global GDP growth," he told Business Insider. AdvertisementKaya warned the conflict could accelerate inflation by disrupting international supply chains and causing the cost of energy and shipping to rise. But he emphasized that hurricanes have historically had limited and short-lived impacts on growth and inflation.

Persons: Helene, —, Hurricane Helene, Ahmet Kaya, Kaya, Brent, Assaf Razin, Eitan Berglas, Oliver Allen, Allen, that's, Duncan Wrigley, China's, Wrigley Organizations: stoke, Service, UK's National Institute of Economic, Social Research, Eitan, of Economics, Tel Aviv University, Pantheon Macroeconomics, Oxford Locations: Hurricane, China, Israel, Iran, Oxford, China China, Beijing

☆ Nvidia CEO Jensen Huang says it's 'insanely hard' to build a business — and ignorance is a 'superpower' for founders
▼ + stars: | 2024-10-04 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +3 min

Nvidia's Jensen Huang explained just how tough it was to build the chipmaker into a world-beater. Startup founders don't know what they're signing up for — and that's a good thing, Huang said. AdvertisementStarting Nvidia from scratch and growing it into a $3 trillion company took three decades and stretched Jensen Huang to his absolute limit. The adversaries and all the smart things that they're going to do. The adversities that you're going to be confronted with over time."

Persons: Nvidia's Jensen Huang, Huang, —, Jensen Huang, Bloomberg — Organizations: Service, Nvidia, Bloomberg

☆ Warren Buffett has sold about $10 billion of Bank of America stock — after slashing his Apple stake by nearly 60%
▼ + stars: | 2024-10-04 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +5 min

Warren Buffett has sold 23% of his Bank of America stake for about $10 billion since mid-July. AdvertisementWarren Buffett has followed up the surprise paring of his Apple stake by taking a knife to another of his largest holdings: Bank of America. Berkshire has slashed its stake from 1.03 billion shares to 794 million shares, reducing its ownership from 13.2% to 10.2%. Related storiesBuffett might also be rebalancing Berkshire's $300 billion stock portfolio in line with his smaller Apple bet. True to his bargain-hunter reputation, Buffett topped up his Bank of America stake in 2020, when the pandemic-hit stock was trading around $25.

Persons: Warren Buffett, Buffett, —, Berkshire Hathaway, hasn't, he's, Goldman Sachs, There's, Brian Moynihan Organizations: Bank of America, Berkshire Hathaway's, Express, Service, Berkshire, Securities, Exchange, Apple, American Express, Oracle, of America, Bank of, JPMorgan Locations: Berkshire, —, Thursday's, Omaha

☆ Champions League Wednesday: Prince William watches Aston Villa, Real Madrid suffers shock defeat
▼ + stars: | 2024-10-03 | by ( George Ramsay | ) edition.cnn.com time to read: +8 min

Prince William watches Aston Villa stun Bayern MunichAston Villa fan Prince William was in the stands to celebrate his team’s memorable win against Bayern Munich. 15-time Champions League winner Real Madrid suffered its first defeat of the season with a 1-0 loss against Lille, an early setback in the team’s European title defense. Kylian Mbappé, hoping to win a first Champions League of his career, was left frustrated against Lille. With that, Salah stretched his run of scoring at home in the Champions League to five matches – the first player in the club’s history to do so. Salah celebrates Liverpool's second goal.

Persons: Mohamed Salah, Here’s, Prince William, Aston, Jhon, Villa, Pau Torres ’, Durán, Manuel Neuer, Mike Egerton, Emi Martínez, Serge Gnabry, Harry Kane, “, ”, Unai Emery, ‘, Eduardo Camavinga’s, Jonathan David, Andriy Lunin’s, Tiago Santos, Antonio Rüdiger’s, Lucas Chevalier, Jude Bellingham’s, Kylian Mbappé, Stephanie Lecocq, Arda Güler, Les Dogues, Carlo Ancelotti, Alexis Mac Allister, Dan Ndoye, Salah, Liverpool's, Paul Ellis, Arne, Michele Di Gregorio, Vlahović, Benjamin Šeško, Di Gregorio, Douglas Luiz, –, Šeško, Signora, Francisco Conceição, David Raum’s, Lisi Niesner, Germain Organizations: CNN, Aston Villa, Bayern Munich Aston Villa, Bayern Munich, Bayern, Press Association, Villa, Champions League, Dinamo Zagreb, Manchester City, Borussia Dortmund –, ’, Lille, Real Madrid, League, France’s, Sporting CP, Bologna, Reds, Italian, Milan, Liverpool, Getty, Champions League –, ” Juventus, Juventus, RB Leipzig, Juve, Reuters, Salzburg, Brest Stuttgart, Sparta Prague Arsenal, Paris Saint, Germain Barcelona, Young Boys Bayer Leverkusen, Milan Borussia Dortmund, Celtic Internazionale, zvezda, Red Star Belgrade, PSV, Sporting Clube de Portugal Slovan Bratislava, Manchester City Shakhtar Donetsk, Atalanta Girona, Feyenoord Benfica, Madrid Liverpool, Bologna RB Leipzig, Juventus Lille, Real Madrid SK Sturm Graz, Brugge Aston Villa, Bayern Munich Dinamo Zagreb, AS Monaco Locations: Europe, Manchester, Barcelona, underwhelm, France’s Ligue, Matchweek, Bologna, AFP, Paris

☆ Champions League Briefing: Arsenal’s statement win – and why so many thrashings?
▼ + stars: | 2024-10-01 | by ( Tim Spiers | ) www.nytimes.com time to read: +12 min

If you like your European midweek football this is the week for you, with 54 Champions League, Europa League and Conference League matches being crammed into three nights. The Champions League kicked things off with some of the competition’s favourites beginning to bare their teeth. It was also, incredibly, their 31st defeat from 37 Champions League group stage away games. Ilkay Gundogan, Phil Foden, Erling Haaland and a first Champions League goal for James McAtee saw City get their first win of this year’s competition. They lost a number of key players in the summer and can’t even play Champions League games at their own home, with the 15,000 capacity Stade Francis-Le Ble not up to Champions League standards (they’re hosting matches at Guingamp’s Stade du Roudourou instead).

Persons: Olivier Giroud, Germain, Luis Enrique, Mikel Arteta’s, Nuno Mendes, Joao Neves, Kai Havertz, Gianluigi Donnarumma, Leandro Trossard’s, l, e, sid e, Rob e, Lew, Rea, ’, Camara, enki, – they, night., ashe, hal f, alf of a, Brendan R, c Roy, are, tim e, eason, Francis, Le Bl, ning, Bayer, ade 0 P, 45pm E, ina Organizations: Champions League, Europa League, Conference League, League, Arsenal, Manchester City, Borussia Dortmund, Brest, Bayern Munich, Paris Saint, Emirates, sco, RIM, rit, UE, eni, Graz, Salzburg …, pla Locations: Barcelona, Emirates, Nis, goa, Zagreb, Ata, Brest, Austria, Red Bul, arta

☆ Bill Gates calls for higher taxes on the rich — but warns against crushing the American dream
▼ + stars: | 2024-10-01 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +2 min

Bill Gates' ideal tax system would leave him worth 62% less, but still a billionaire. The Microsoft cofounder said the rich should pay higher taxes and give the rest to good causes. The Future with Bill Gates." Gates' latest comments suggest he'd like to be about $100 billion less wealthy at around $62 billion. He's previously said he would have paid "tens of billions" more in taxes if he'd designed the US tax system.

Persons: Bill Gates, —, Microsoft wouldn't, Gates, Kara Swisher, Sen, Bernie Sanders, Sanders, that's, Melinda Gates, whatever's, He's, he'd Organizations: Microsoft, Service, Netflix, Bloomberg, Melinda Gates Foundation Locations: Korea, America

☆ European soccer round-up: Manchester United sinks to another humiliating defeat, Madrid derby marred by fan trouble
▼ + stars: | 2024-09-30 | by ( George Ramsay | ) edition.cnn.com time to read: +8 min

United fell to a third league defeat in six games on Sunday, losing 3-0 at home against Tottenham amid captain Bruno Fernandes’ red card. There were dramatic results across the Premier League this weekend, as well as a crowd-disrupted Madrid derby in La Liga and a novel way of protesting a refereeing decision by José Mourinho in Turkey. England’s Premier League: United’s woes persistThe pressure on United manager Erik ten Hag has grown after the club’s latest defeat against Tottenham, another humiliation in an underwhelming start to the season. It means that United is 12th in the Premier League table having also suffered a miserable 3-0 defeat at Old Trafford against Liverpool earlier this month. For me, it’s just not a really good decision.”Elsewhere in the Premier League, Liverpool capitalized on Manchester City’s 1-1 draw against Newcastle by moving top of the table after six games.

Persons: Bruno Fernandes ’, José Mourinho, Erik ten Hag, Brennan Johnson, Micky van de Ven, Fernandes ’, James Maddison, Dejan Kulusevski, Dominic Solanke, Hag, ”, Michael Regan, Getty, Fernandes, “, “ I’ve, I’ve, it’s, didn’t, Mohamed Salah, Arne Slot, James Justin’s, –, Gabriel Martinelli, Leandro Trossard, Mads Hermansen, Wilfred Ndidi, Kai Havertz, Cole Palmer, Militão, Vinícius, Ángel Correa, Marcos Llorente, Atleti, ” Atlético, Diego Simeone, Gonzalo Arroyo Moreno, Blancos, Carlo Ancelotti, We’re, Turkey’s, Jose Mourinho, Edin Dzeko’s, Mourinho, Dušan Tadić, Thalisson, Harry Kane, Kane, “ Kane, ” Aleksandar Pavlović's, Matthias Schrader, Christian Dreesen, Robert Andrich’s, Aleksandar Pavlović, Vincent Kompany’s Organizations: CNN, Manchester United, Tottenham, Premier League, La Liga, England’s Premier League, Spurs, Old, Liverpool, ” Tottenham, United, Sky Sports, Manchester, Newcastle, The Reds, Wolves, Nottingham Forest, Arsenal, Leicester City, Leicester, Chelsea, Liga, Real Madrid, Atlético, Atleti’s Metropolitano, “, Barcelona, Osasuna, Antalyaspor, Germany’s Bundesliga, Bayern Munich, team’s Champions League, Aston Villa, Wednesday, Bayer Leverkusen, Bayern, Leverkusen, Bundesliga Locations: Madrid, La, Turkey, Here’s, Old Trafford, togetherness, Spain, Atlético Madrid, Bayern’s, Bayern

☆ 5 titans of French luxury grew $50 billion richer in a week — and are now worth more than Costco
▼ + stars: | 2024-09-30 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +4 min

Five French luxury icons grew $50 billion richer last week on the back of China's stimulus plans. AdvertisementFive titans of French fashion and beauty added a full $50 billion to their fortunes last week, boosting their combined wealth to more than $420 billion. Julien Hekimian/Getty ImagesKering founder François Pinault's net worth rose by $2.3 billion to $25.6 billion last week, placing him 78th on the list. Arnault was worth $24 billion more at $231 billion in March, which made him the world's wealthiest person at the time. Bettencourt Meyers was $7.5 billion richer at $101 billion in June, while the Chanel siblings were each worth about $6.4 billion more at roughly $55 billion around the same time.

Persons: LVMH's Arnault, Chanel, —, stoked, Bernard Arnault, Louis Vuitton, Larry Ellison, Mark Zuckerberg, Françoise Bettencourt Meyers, L'Oréal's, Alice Walton, Francois Guillot, Alain, Gerard Wertheimer, Coco Chanel, Chanel's cofounders, Julien Hekimian, François, Balenciaga, Yves Saint Laurent, Kering, Francois, Henri Pinault, Salma Hayek, MICHAEL TRAN, Rodolphe Saadé, Arnault, haven't, Pinault, Bettencourt Meyers Organizations: Service, Tiffany, Bloomberg, Walmart, Getty, Gucci, CMA CGM, Procter & Gamble, Home, Costco Locations: China, Sephora, AFP

☆ An uncertainty guru says investors can't dismiss doubt — and even Warren Buffett's success may be down to luck
▼ + stars: | 2024-09-29 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +5 min

David Tuckett, an uncertainty researcher, told BI that dismissing doubt eventually "leads over a cliff." He said the success of elite investors like Warren Buffett may be largely down to luck, not skill. AdvertisementEven the smartest minds in finance and tech don't know for sure what the future holds, and even the most successful investors may have gotten lucky, one expert says. Elon Musk responded on X that "Buffett is already preparing for this outcome," ostensibly suggesting Warren Buffett will offload stocks too if Donald Trump secures a second term. AdvertisementThat applies to even the best investors like Warren Buffett, he told BI.

Persons: it's Elon Musk, John Paulson, David Tuckett, Warren Buffett, —, John Paulson —, Kamala Harris, Elon Musk, Buffett, Donald Trump, Paulson, Musk, David Tuckett Lucking, Tuckett Organizations: Service, Centre, University College London, HSBC Locations: Berkshire, Tuckett

☆ Iran weighs its next move as its closest ally takes a hit in Lebanon
▼ + stars: | 2024-09-28 | by ( Abbas Al Lawati | Mostafa Salem | ) edition.cnn.com time to read: +12 min

As Tehran watches its most prized non-state ally take a beating, questions are mounting about how it may respond. Israel then began an air assault that killed several Hezbollah commanders and led to the highest number of casualties in Lebanon in almost two decades. The Israeli military has claimed that Nasrallah has been killed, but Hezbollah is yet to comment on the matter. But it’s not an easy option as they will (become) targets, and they don’t understand Lebanon.”Under what circumstances would Iran intervene? This week however, Foreign Minister Abbas Araghchi warned that his country would not remain “indifferent” if a full-scale war between Israel and Hezbollah erupted in Lebanon.

Persons: CNN —, Israel, Hassan Nasrallah, Nasrallah, “, ”, Hanin Ghaddar, Amal Saad, Saad, … it’s, it’s, Ayatollah Ali Khamenei, Trita Parsi, Mohamed Azakir, Farzin, Nadimi, ” Saad, ” Parsi, Parsi, Masoud Pezeshkian, Javad Zarif, Donald Trump, Mike Segar, Pezeshkian, CNN’s Christiane Amanpour, Zarif, Ismail Haniyeh, Abbas Araghchi Organizations: CNN, Washington Institute, AFP, Cardiff University, Islamic Revolutionary Guard Corps, ”, Washington DC, Quincy Institute, American University of, American University of Beirut Medical Center, Islamic, United Nations, United Nations General Assembly, UN, Reuters, Israel, West, Assembly, UN Security Locations: Israel, Tehran, Gaza, Lebanon, Beirut, Wales, Tel Aviv, Lebanese, Iran, American University of Beirut, Damascus, United States, “, Iraq, Syria, Yemen, Islamic Republic, New York

Lebanese authorities have said that the devices used in the attacks were Gold Apollo Rugged Pager AR-924 pagers and ICOM IC-V82 walkie-talkies. The logo of Taiwanese company Gold Apollo is seen outside its office in New Taipei City on September 18, 2024. Yan Zhao/AFP/Getty ImagesThe chairman and founder of Taiwan-based Gold Apollo, Hsu Ching-kuang, was questioned by Taiwanese prosecutors last Thursday before being released. On its YouTube channel and website, Apollo Systems HK said that it had acquired the “sole distribution rights” to Gold Apollo pager systems. Hsu Ching-kuang (L), head of Taiwanese company Gold Apollo, speaks to the media outside the company's office in New Taipei City on September 18, 2024.

Persons: Budapest CNN — Israel, Yoav Gallant, “, Shin, Israel, Sean Moorhouse, ” Moorhouse, Mohamed Azakir, –, Gold, ICOM, Yan Zhao, Hsu Ching, Hsu, Teresa, Teresa Wu, Wu, Jakub Porzycki, Cristiana, Arcidiacono, ’, DANS, Dimitar Glavchev, Rinson Jose, Jose, Hassan Nasrallah, ” Nasrallah, ”, Hassan Ammar, Volker Türk, Pallabi Munsi, Katie Polglase, Tara John, Eyad Kourdi, Avery Schmitz Organizations: Budapest CNN, Getty, Israel, CNN, British Army, American University of, American University of Beirut Medical Center, Reuters, United Nations, UN Security, UN, International, New York Times, Consulting, Budapest, Gold, Prosecutors, BAC Consulting, Apollo Systems Ltd, Taiwan’s International Trade Administration, Apollo Systems, Apollo Systems HK, YouTube, Apollo, AA, ”, NBC News, Norta Global, Norta, Norwegian Police Security Service, Security, “ Authorities Locations: Beirut, New Taipei City, Budapest, Lebanon, Beirut's, AFP, American University of Beirut, Taiwan, Hungary, Taipei, Taipei City, Hong Kong, United States, Australia, Europe, Bulgaria, Norway, Anadolu, pagers, Sofia, Norwegian, Gaza

☆ LVMH's Bernard Arnault set to overtake Mark Zuckerberg as the world's 3rd-richest person after $24 billion wealth surge
▼ + stars: | 2024-09-27 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +3 min

Bernard Arnault's net worth has soared by $24 billion in four days to $201 billion. The LVMH CEO is set to leapfrog Mark Zuckerberg and become the world's third-richest person. AdvertisementBernard Arnault has grown $24 billion richer in four days — and looks set to overtake Mark Zuckerberg as the world's third-richest person. He was the richest person on the planet with a $231 billion net worth in late March. AdvertisementThe decline in LVMH stock this year has narrowed from about 20% to 5%, meaning it's no longer languishing at a two-year low.

Persons: Bernard Arnault's, Mark Zuckerberg, —, Bernard Arnault, leapfrog Zuckerberg, Larry Ellison, He's, who's, Louis Vuitton, Dom Perignon Champagne Organizations: Service, Dior, Tiffany, Oracle, LVMH Locations: China, Moncler, Cashmere, Japan

☆ Elon Musk is $100 billion richer than in April thanks to Tesla's stock surge — and worth more than McDonald's or Pepsi
▼ + stars: | 2024-09-26 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +1 min

Elon Musk is worth more than Salesforce or Pepsi after a $100 billion wealth gain since April. Go to newsletter preferences Thanks for signing up! The Tesla CEO's net worth crashed from $229 billion at the start of January to $164 billion by late April, per the Bloomberg Billionaires Index. However, shares of the EV maker have surged by over 80% from their April low, driving a more than $100 billion increase in Musk's wealth to $270 billion at Wednesday's close. That includes an almost $50 billion rise since August 7, when Musk's fortune stood at an estimated $223 billion.

Persons: Elon Musk, —, Elon Organizations: Pepsi, Service, Tesla, Bloomberg, Business

☆ A surfer without a degree is worth $16 billion after his biotech company's stock soared 1,100% in a year
▼ + stars: | 2024-09-26 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +3 min

The company's stock price has surged by over 1,100% in the past 12 months, lifting its market value to over $16 billion. Summit stock jumped from about $12 on September 6 to a record high of $32 on September 13, but has retreated to around $23 since then. Spurred on by his son's death from brain cancer, Duggan started building a stake in Pharmacyclics, a maker of cancer drugs, in 2004. Pharmaceutical titan AbbVie bought the business for $21 billion in cash and stock in 2015, netting Duggan more than $3 billion, per Bloomberg. He joined Summit's board in 2019 and became CEO and chairman in 2020, making cancer drugs his principal focus.

Persons: —, Bob Duggan, Duggan, AbbVie Organizations: Service, Summit Therapeutics, Bloomberg, Business, Summit, UC Santa Barbara, Wall Street Journal, Computer, of Scientology, Duggan Investments Locations: Pharmacyclics

☆ UAE eyes ‘different architecture’ for a Middle East embroiled in conflict as it strengthens ties with the US
▼ + stars: | 2024-09-25 | by ( Mostafa Salem | ) edition.cnn.com time to read: +5 min

The UAE president’s visit to the US “was mostly and almost exclusively about the future,” Gargash said. One of the US’ closest allies in the Middle East and a major recipient of US arms, it hosts 5,000 US military personnel. Wary of being deprived of US technology, the UAE has since abandoned closer cooperation with China in the field of AI and semiconductors in favor of the US. Earlier this year, Abu Dhabi’s state-backed technology firm G42 announced it had agreed not to engage with Chinese companies for advanced technology. He said the two pillars of the UAE’s policy are stability and prosperity.

Persons: Biden, Kamala Harris, Jake Sullivan, Sheikh Mohammed bin Zayed, –, ” Biden, ” Sheikh Mohammed, ” Anwar Gargash, CNN’s Becky Anderson, ” Gargash, Abu, Donald Trump, Abu Dhabi’s, ”, Sheikh Mohamed, Gargash, Abu Dhabi Organizations: Abu Dhabi CNN, United, White, National, USA, UAE, Abu Dhabi, US Air Force, CNN, Biden, Huawei Technologies, Financial Times, NVIDIA, Blackrock, Microsoft, MGX Locations: Abu Dhabi, United Arab Emirates, Gaza, Lebanon, UAE, trailblazers, United States, Israel, China, Washington, Abu

☆ Don't hate billionaires like Jeff Bezos — they make our lives better, 2 experts say
▼ + stars: | 2024-09-25 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +7 min

But two experts say the uber-wealthy are often huge contributors to society — and trying to eliminate them could badly backfire. It's become increasingly popular to make claims such as "billionaires shouldn't exist" and "any billionaire is a policy failure." But these moral criticisms of billionaires are unconvincing because people overstate billionaires' power and influence and overlook the benefits of some billionaires. There's a widespread belief that governments should tax billionaires primarily and spend that money on public goods and anti-poverty programs. Instead of saying that every billionaire is a policy failure, we should instead embrace the idea that every billionaire is a policy success.

Persons: Critics, —, Jessica Flanigan, Richard L, Chris Freiman, It's, Elon Musk, Jeff Bezos, Steve Jobs, Jobs, Bezos, Warren Buffett, isn't, Taylor Swift, LeBron James Organizations: Service, Morril, University of Richmond, West Virginia University, Business Locations: multimillionaires

☆ 3 Waltons Are Worth at Least $100B Each, Jointly Richer Than Elon Musk
▼ + stars: | 2024-09-25 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +1 min

Three Walmart heirs have net worths of at least $100 billion, per Bloomberg. Jim Walton is worth $103 billion, while Robson and Alice are worth $101 billion and $100 billion each. The trio's combined net worth has reached $304 billion, dwarfing Elon Musk's $268 billion fortune. AdvertisementThree Walmart heirs are now worth at least $100 billion each — and together they're richer than the world's wealthiest person, Elon Musk. The three surviving children of the late Sam Walton — Jim, Robson, and Alice — are now worth $103 billion, $101 billion, and $100 billion respectively, per the Bloomberg Billionaires Index.

Persons: Jim Walton, Robson, Alice, dwarfing Elon Musk's, —, Elon Musk, Sam Walton — Jim, Alice — Organizations: Walmart, Bloomberg, Service, Business

☆ Biden looks to burnish foreign policy legacy at the UN as leaders grapple with a world on fire
▼ + stars: | 2024-09-24 | by ( Sam Fossum | Kayla Tausche | ) edition.cnn.com time to read: +10 min

CNN —After more than five decades at the forefront of United States foreign policy, President Joe Biden may have hoped to use his speech to over a hundred world leaders at the United Nations General Assembly in New York to burnish both his own legacy and the country’s leadership on the world stage. “The world has changed, and the world’s gotten more difficult in many ways,” one senior administration official said. Election loomingIn New York, world leaders will find themselves grappling with the growing list of global flashpoints – all while an election just weeks away looms over the US’ role as the democratic world’s champion, benefactor and leading arms supplier. While Biden will be formally representing the US at the table, former president Donald Trump and Vice President Kamala Harris are separately meeting with world leaders to bolster relationships and outline their own goals. This will be followed by a meeting focused on Ukraine reconstruction with world leaders – a critical topic ahead of Biden’s meeting with Zelensky later this week.

Persons: Joe Biden, Biden, ” Biden, ” –, Ukraine –, Volodymyr Zelensky, ”, Donald Trump, Kamala Harris, –, We’re, ” Ali Zaidi, Zelensky, Sheikh Mohamed bin Zayed Al Nahyan, we’re, Linda Thomas, Greenfield, Jon Alterman, ” Alterman, ” Thomas, “ Organizations: CNN, United, United Nations General Assembly, General, White House White, Global Coalition, United Nations, Hezbollah, UN Security Council, UN, Center for Strategic, International Studies, US, Biden Locations: United States, New York, Israel, Lebanon, Gaza, Ukraine, Lebanon’s, Russia, China, White, Vietnam, Southeast Asia, Australia, India, Japan, Wilmington, United Arab Emirates, Sudan, “, Africa, Greenfield

☆ What happened in Lebanon and why is Israel attacking Hezbollah?
▼ + stars: | 2024-09-24 | by ( Helen Regan | ) edition.cnn.com time to read: +10 min

On Monday, Israel intensified its air campaign on Hezbollah, launching “extensive strikes” targeting the Iran-backed militant group in Lebanon. It is unclear how many of the casualties were civilians or Hezbollah militants, but many of the locations described by Israel as Hezbollah targets are also residential neighborhoods and villages. The nearly 500 killed on Monday alone is roughly half the number of Lebanese killed throughout the entire 34-day war between Israel and Hezbollah in 2006. Why is Israel attacking Lebanon? The US believes that neither Israel nor Hezbollah are interested in a full-scale war, but a major concern is that Iran, a key backer of Hezbollah, will get involved, US officials told CNN.

Persons: CNN — Israel, Benjamin Netanyahu, Israel, Isarel, Daniel Hagari, Mahmoud Zayyat, Amos, Stringer, Mohamed Hamayda, Firass Abiad, ” Hagari, Netanyahu, Fadel Itani, ”, Halevi, Leon Panetta Organizations: CNN, Hezbollah, Getty, Ramat, United Nations General Assembly, Reuters, Agence France, Presse, Lebanon’s, Hamas, UN Security Council, Former US Defense, CIA, UN, Assembly, State Department Locations: Lebanon, Israel, Iran, Lebanon’s, Syria, Lebanese, Sidon, AFP, Tyre, Beirut, Meggido, Afula, Deir, Gaza, Palestinian, Tehran, Yemen, Iraq, Beirut's, ”, Qatar, France, New York, United States

☆ Mark Zuckerberg is now worth $200 billion, putting the Meta CEO in the world's most exclusive club
▼ + stars: | 2024-09-24 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +1 min

Mark Zuckerberg is one of only three people in the ultra-exclusive $200 billion club. The Meta CEO has joined Elon Musk and Jeff Bezos after a $72 billion wealth surge this year. Bezos' net worth rebounded above $200 billion, while LVMH's Bernard Arnault crashed out of the club. AdvertisementMark Zuckerberg just joined a club that's even more exclusive than the $100 billion club. Zuckerberg has made the cut following an unmatched $72 billion increase in his wealth to $200 billion this year.

Persons: Mark Zuckerberg, Elon Musk, Jeff Bezos, LVMH's Bernard Arnault, —, Zuckerberg, That's Organizations: Elon, Service, Amazon, Bloomberg, Business

☆ Mark Cuban slams Trump's new silver coins as a bitcoin betrayal and an attempt to profit from his supporters
▼ + stars: | 2024-09-23 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +4 min

In an X post On Saturday, the tech billionaire shared the Republican presidential candidate's promotional video for Official Trump Coins, in which Trump hailed them as a "true symbol of American greatness." "He is selling the silver coins as a collectible that could increase in value …. He also suggested Trump's endorsement of the coins means he can't be trusted as a business partner or investor. Cuban asked on X.AdvertisementHe continued: "Would you tell ANYONE you know to get business or investment advice from a person selling these coins?" Cuban has repeatedly criticized Trump in recent weeks while championing Vice President Kamala Harris, Trump's rival in this year's presidential race.

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☆ Watch CNBC’s full interview with Allianz chief economic advisor Mohamed El-Erian
▼ + stars: | 2024-09-23 | 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 EmailWatch CNBC’s full interview with Allianz chief economic advisor Mohamed El-ErianMohamed El-Erian, Allianz chief economic advisor, joins ‘Closing Bell’ to discuss how the Fed is approaching economy, market response to its recent rate cut, and more.

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