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Bill Ford calls on UAW to 'stop this now'
  + stars: | 2023-10-16 | by ( Vanessa Yurkevich | ) edition.cnn.com   time to read: +2 min
CNN —Bill Ford, the executive chair of Ford Motor Company, made his first public comments since negotiations began with the United Auto Workers union and the Big Three automakers. He called on the UAW to “stop this now,” and bring an end to talks. But I will never consider our employees as enemies,” Ford said Monday at Ford’s Rogue Center in Dearborn, Michigan. “This should not be Ford versus the UAW. Ford said the company made a record offer to the UAW, and the strike against Kentucky Truck Plant harms tens of thousands of Americans including dealers, workers and suppliers.
Persons: Bill Ford, Ford, ” Ford, Tesla, , Shawn Fain, ” Fain Organizations: CNN, Ford Motor Company, United Auto Workers, Big Three, UAW, Monday, Ford, Toyota, Honda, , Plant, Kentucky Locations: Dearborn , Michigan, Kentucky, Louisville
[1/4] A United Auto Workers (UAW) union member wears a pin while picketing outside Ford's Kentucky truck plant after going on strike in Louisville, Kentucky, U.S. October 12, 2023. It is in discussions with GM about the parameters of a deal to include battery plant workers under a master labor agreement. Analysts at Wells Fargo estimated that Ford will lose about $150 million per week in core profit from the Kentucky plant strike. Some analysts said the decision to shut down Kentucky Truck and other high-profit Detroit Three operations is a sign that the endgame could be starting in the labor dispute. The tens of thousands of Ford workers with no retirement security."
Persons: Luke Sharrett, Shawn Fain, “ We’re, , Fain, We're, Ford, Jim Farley's, Farley, ” Ford, Arthur Wheaton, Stellantis, Kumar Galhotra, who's, Todd Dunn, who've, Dunn, Galhotra, David Shepardson, Joseph White, Abhirup Roy, Pushkala Aripaka, Shivansh, Amna, David Gaffen, Jamie Freed, Ben Klayman, Matthew Lewis Organizations: United Auto Workers, UAW, REUTERS, Rights, Detroit Three, Ford, Kentucky, General Motors, Chrysler, Detroit automakers, GM, Detroit, Cornell University, Reuters, Ford Bronco, EV, Thomson Locations: Ford's Kentucky, Louisville , Kentucky, U.S, F.N, Kentucky, Wells, Milan, Louisville, Ford's Michigan, Washington, Detroit, San Francisco, Bengaluru
Now there is only one rule – pony up.”The announcement marks a tactical shift, Fain said. This is the first time that the union has gone on strike against GM, Ford and Stellantis at the same time. GM, Ford and Stellatis have all announced plans to shift from traditional gasoline-powered vehicles to electric vehicles, or EVs. All are expected to pay significantly less than UAW members at those engine and transmission plants are now paid. Details of what GM has agreed upon in relation to workers battery plant workers is not yet known, as GM has not confirmed the tentative agreement on the issue.
Persons: Shawn Fain, ” Fain, Fain, “ We’re, , they’re, , Colin Langan, Ford, Kumar Galhotra, didn’t Organizations: CNN, Big, UAW, Kentucky, Plant, GM, Ford, Wells, Kentucky Truck Locations: Ford’s, Louisville, Wells Fargo
Learn moreIt's rounding 8pm on Prime Day, which means our team is battle worn and loopy from 48 straight hours of covering the best Prime Day deals. Which is why when I saw this whopping 1% Prime Day discount on an Hermes Birkin, I near about blew a gasket. And today, Amazon has graciously offered us the chance to buy a used Birkin for the low low starting price of $17,300, once you clip the "coupon" for $200 off. But, yep, there it was: a little "Prime Big Deal" badge atop a picture of a teal Birkin. Suffice to say, I think it's time for me to call it quits for this Prime Day.
Persons: I'm, Hermes Birkin, Birkin TikTok, Birkin, That's, Jeffery Bezos Organizations: Amazon
An emergency fund can even be useful if you're already in debt, because it can help you avoid borrowing more. But an emergency fund can also be a financial buoy in everyday life, not just when there is an emergency. Having an emergency fund in addition to your down payment account can provide some extra padding when you purchase a home. An emergency fund gives you a cushion so that you can handle the needs of your new home without living paycheck to paycheck. Start an Emergency Fund SoFi Checking and Savings is one of the best checking account options if you want to keep your savings and checking with one bank.
Persons: , I've Organizations: Service Locations: France, Spain
Jittery markets may tie Dutch insurers' hands
  + stars: | 2023-09-28 | by ( ) www.reuters.com   time to read: +2 min
LONDON, Sept 28 (Reuters Breakingviews) - Dutch insurers NN (NN.AS) and ASR (ASRNL.AS) have lost 3 billion euros of combined market value after court rulings in the Netherlands raised the prospect of large compensation claims. The respective 22% and 16% stock price collapse will put pressure on the two groups to reach a speedy resolution. But customers argue that the insurers marketing these policies failed to disclose how much of their premiums went to actual investments, and how much covered the sellers’ costs. Take Hague-based NN: it has 315,000 active woekerpolissen policies and 581,000 inactive ones, ING reckons. Its 2.1 billion euro market value loss is equivalent to a claim of 2,300 euros per policy.
Persons: Pamela Barbaglia, , quagmire, Neil Unmack, Streisand Neto Organizations: Reuters, ING reckons, JPMorgan reckons, Dutch, X, Thomson Locations: Netherlands, Ukraine
Amazon announced that ads will be introduced to Prime Video in early 2024. Of course, with the introduction of ads, comes the introduction of a new ad-free subscription — Prime Video users can opt to pay $2.99 more per month for an ad-free membership, the company said in a statement. Currently a standalone Prime Video subscription costs $8.99 per month. Both Peacock and and Paramount+ raised their ad-free subscription prices by $2, from $9.99 to $11.99, this past July. Of course, as Insider's Nathan McAlone puts it — the end of cheap streaming is not here yet, but rather the end of cheap, ad-free streaming.
Persons: Amazon, Gunnar Wiedenfels, Mark Schilsky, Max, Peacock, Insider's Nathan McAlone Organizations: Amazon, Service, Warner Bros, Paramount, Bernstein Research, Disney, Hulu, Netflix, Apple Locations: Wall, Silicon, UK, Germany, Canada, France, Italy, Spain, Mexico, Australia
China's AI 'war of a hundred models' heads for a shakeout
  + stars: | 2023-09-21 | by ( Josh Ye | ) www.reuters.com   time to read: +5 min
Additionally, companies have also announced dozens of "industry-specific LLMs" that link to their core model. However, investors and analysts say that most were yet to find viable business models, were too similar to each other and were now grappling with surging costs. Several other big name entrepreneurs and tech executives are behind new Chinese AI startups, such as Google China's former chief Kai-Fu Lee and Yan Juejie, a former vice-president of SenseTime (0020.HK). Others said that China's largest tech companies Alibaba, Tencent and Baidu ultimately had the biggest headstart and deep pockets to succeed, given their large user bases and wide range of services. For instance, they could easily offer generative AI services as an additional plug-in to their cloud users.
Persons: Baidu's, Robin Li, Ernie Bot, Tingshu Wang, OpenAI's, Esme Pau, Pau, Yuan Hongwei, Meta, Baichuan, Wang Xiaochuan, China's, Wang, Yuan, Kai, Fu Lee, Yan Juejie, SenseTime, Tony Tung, Tung, Josh Ye, Brenda Goh, Sam Holmes Organizations: Baidu, REUTERS, HK, Huawei, Nvidia, China, Macquarie Group, Y, Baichuan Intelligence, Inc, Sogou, Google, Partners, Thomson Locations: Beijing, China, HONG KONG, Alibaba, United States, Washington, Shenzhen
The gaffe comes as both Biden, Trump, and members of Congress face criticism for their advanced age. Minutes later, according to a White House media pool report, Biden shared the story again "nearly word for word." As the White House pool report notes, he said that "though he looked 30, he knew why people talked about it - and said he believed that the nation could still be united." AdvertisementAdvertisementWhile Republicans have repeatedly attacked Biden for his age, Trump, who's mercilessly attacked Biden throughout his presidency online and in interviews, isn't going after the 46th president over his age. AdvertisementAdvertisementThe White House did not immediately respond to Insider's request for comment.
Persons: Biden, Trump, Joe Biden, he's, Donald Trump's, who's, isn't Organizations: Biden, Service, White House, White, Republicans, Republican, Democratic, Pew Research Locations: Wall, Silicon, Charlottesville , Virginia, Charlottesville
The eye-popping numbers are part of a longer-term shift toward private college housing. Moody's Analytics recently warned of an "affordability crisis" for college students, noting that since 2019, rents for student housing in a sample of notable college towns had grown faster than those of regular apartments. Student housing goes privateThe gold rush in student housing is a relatively new phenomenon. Back in the 1980s and '90s, most college students either lived in bland, cinder-block-walled dorms or in conventional apartments farther from campus. Even with his frugality, he came to realize that the prices in West Campus were "impossible to rationalize" for a college student.
Persons: behemoth Blackstone, Evan Scope, UT Austin who's, Carl Whitaker, Austin Kristian Alveo, Whitaker, Mark Austin, Kristian Alveo, David Willson, Willson, Gina Cowart, Cowart, David Kanne, lounging, Ann, Kanne, Lu Chen, RealPage, Donald Cohen, Cohen, Graham Sowden, Dan Allen, Allen, Austin, James Rodriguez Organizations: Waterloo, University of Texas, Wall Street's, American, Communities, National, Housing, Evan Scope Crafts, UT Austin, University, UT, LV, UTs, Crafts, American Campus, HBO, West, haven't, State College ,, Moody's, Power, Middlebury College, University of Tennessee, Arizona State University, Urban Institute, Investors, Power Five, RREAF Holdings Locations: Austin, Wall, Waterloo, UT Austin, Rio, Villas, West, West Campus, Gainesville , Florida, Ann Arbor , Michigan, State College , Pennsylvania, Knoxville, South
Vcg | Visual China Group | Getty ImagesBEIJING — China's capital city is taking swift steps to allow robotaxi businesses to grow. As of Tuesday, the suburban Beijing city district of Yizhuang is officially letting local robotaxi operators — primarily Baidu and startup Pony.ai — charge fares for fully autonomous taxis, with no human staff inside. "We have very high confidence ... maybe only in three years, our full driverless vehicles are going to be running over the whole Beijing city," he said in an interview with CNBC on Monday. Out of more than 200 robotaxis that Pony.ai operates in the region, only about ten are currently fully driverless, Zhang said. Beijing city did not immediately respond to a CNBC request for comment.
Persons: Ning Zhang, Beijing's, Zhang, Yin Yong, Pony.ai, Baidu, Alphabet's Waymo, Pony.ai's Zhang, , Leswing, Lora Kolodny Organizations: Visual China, Getty, BEIJING, Baidu, CNBC, Daxing International, robotaxis, General Motors, California Department of Motor Vehicles, Beijing Daxing, Google Locations: Beijing, Yizhuang, Pony.ai, Yizhuang district, Daxing, U.S, San Francisco, California, China, Shenzhen, Wuhan, Chongqing, Guangzhou, Shanghai
The MB-339 jet had exploded moments after takeoff at around noon local time, officials said, according to the Italian Fire Brigade. The Frecce Tricolori aerobatic jets, part of the Italian Air Force, were practicing a formation ahead of the 100-year celebrations of the Italian Air Force that are set to take place Sunday. Matteo Secci/APItalian media reported that the jets hit a flock of birds just after takeoff, according to CNN affiliate Sky24. The Italian Air Force said it was “dismayed and astonished” by the jet crash, according to a statement made by the Italian Chief of Staff of the Air Force and Air Squadron General Luca Goretti. The Italian Air Force has not confirmed the exact cause of the accident, but has hypothesized there was a bird strike during the very first phases of takeoff.
Persons: Tricolori, Matteo Secci, Regina Margherita Children’s, , Luca Goretti, Major Oscar Del Do Organizations: CNN, Air, Italian Fire Brigade, Bosco Hospital, Italian Air Force, Sky24, Regina Margherita Children’s Hospital, Staff, Air Force, Air Squadron Locations: Turin, Turin’s Caselle, Italian
Google reached a $93 million settlement with California over location-tracking concerns. Last November, Google reached a $391.5 million settlement with 40 states over a similar inquiry. Google was accused of tracking the location history of users who opted out. The settlement follows a $391.5 million settlement with 40 states, reached in November 2022, to resolve an investigation into how the company tracked users' locations. That's unacceptable, and we're holding Google accountable with today's settlement," Attorney General Rob Bonta said in a statement.
Persons: Rob Bonta, we've Organizations: Google, Service Locations: California, Wall, Silicon, OAKLAND , California
“Why do we even bother going through this whole dog-and-pony show trying to figure out who else can do this movie? While almost half the actor-director films at Toronto are by women, everyone knows by now the challenges female filmmakers face behind the camera. While some independent films have secured interim agreements if they agree to union demands, this year’s festival has seen few American filmmakers and actors doing promotion. Despite that, “Woman of the Hour” still landed the first major sale of the festival in a reported $11 million deal with Netflix. Considering that the stability of Hollywood itself is in question, it is hard to determine whether directing confers more security than having to hang around waiting for an acting job.
Persons: Yoon —, Kendrick —, Kendrick, , , Yoon, Olivia Wilde, Ian McDonald —, Rodney Alcala, , ” Yoon, Anna Kendrick, Yoon gestured, Eva Longoria Organizations: SAG, Netflix Locations: Vancouver, Los Angeles, Toronto, Hollywood
During the first year of NIL, collectives were viewed as "hush-hush" by many in the industry, Opendorse marketplace's Braly Keller previously told Insider. Brandon McCladdie/Happy Valley UnitedHow collectives work with college athletesThe main goal of collectives is to create NIL opportunities for college athletes. About a quarter of Dinkytown Athletes' NIL deals have been business partnerships between Minnesota athletes and companies like Dove, Northwestern Mutual, and PNC Bank. Happy Valley United's NIL work also involves engaging with the local community, including the collective's partner charities, said McCladdie. Happy Valley United is building its brand through media attention and community-based "grassroots" efforts, McCladdie said.
Persons: marketplace's Braly Keller, Keller, there's, it's, University of Minnesota —, Derek Burns, Burns, Brandon McCladdie, McCladdie Organizations: Big Ten, Pennsylvania State University, Dinkytown, University of Minnesota, State College ,, Penn, Golden Gophers, Happy, Dinkytown Athletes, Penn State, Blueprint Sports Foundation, Northwestern Mutual, PNC Bank, College, Gopher, Gopher Sports, State College Locations: State College , Pennsylvania, Minnesota, Minneapolis
Footwear companies have found recent success going public market, but not all by any means over the longer-term. In more recent history, the brand has collaborated with Rick Owens, Dior, and Manolo Blahnik, among many other big names in fashion. The current IPO market landscape The IPO market has been all but frozen since the pandemic stock offering boom crashed, and successful IPOs have included iconic brands, such as the Johnson & Johnson spinoff of its consumer health business which includes Tylenol and band-Aids in the Kenvue IPO. Still, while Kenvue was the biggest deal of the year, it's barely holding onto its IPO price today, according to CNBC and Renaissance Capital data, and the IPO market overall hasn't performed great after listing. The two potential paths of a footwear IPO can be tracked by the histories of Crocs and Allbirds.
Persons: Nordstrom, Jeff Greenberg, what's, Johann Adam Birkenstock, Birkenstock, Angelo Bochanis, Oliver Reichert, outsized, Reichert, Konrad Birkenstock, Johann, Karl, Konrad, Margo Fraser, Kim Knott, Kate Moss, Corinne Day, Rick Owens, Dior, Manolo Blahnik, Jeremy Moeller, Barbie, Margot Robbie, Johnson, Kenvue, it's, hasn't, Mark Cohen, Cohen, Jamie Dimon, Dimon, Bochanis, " Cohen Organizations: Universal, Getty, New York Stock Exchange, Nasdaq, Holding, Renaissance, Consumers, British Elle, Brand, CNBC, Columbia Business School, Facebook, Wall, JPMorgan, Company Locations: Merrick, , Miami, Germany, America, California, British, Arizona, It's, U.S
Here's his four-step pitching method, and why he's against using templates for cold outreach. Justin Moore and his wife April have been content creators since the dawn of YouTube. He shared with Insider the pitch method he teaches as part of his course. method for pitchingMoore said the biggest mistake creators make when pitching brands is that they make it all about themselves. Justin MooreIn Moore's method, the creator's pitch should be "relevant" to a campaign that the brand is working on, or they've run in the past.
Persons: Justin Moore, he's, Moore, He's, , Moore's, Justin Organizations: That's
Workers, especially in low-paid industries, have millions in wages stolen each year. Wage theft — when employers don't pay their workers the benefits they're entitled to — is incredibly prevalent across the economy. From 2017 to 2020, workers clawed back over $3 billion in stolen wages , according to the left-leaning nonprofit think tank Economic Policy Institute. Under Murray's proposed legislation, workers would get paid back fully what they're owed — not just minimum wage. Meanwhile, government agencies are also trying to take aim at firms not paying workers what they're owed.
Persons: Sen, Patty Murray, Rosa DeLauro, Bobby Scott, Murray, Murray's, , they'll, they're Organizations: Service, Workers, Economic Policy Institute, Labor Department Locations: Wall, Silicon, DOL,
While some foreign search-and-rescue teams arrived on Sunday as an aftershock rattled Moroccans already in mourning and shock, other aid teams poised to deploy grew frustrated waiting for the government to officially request assistance. Carl Court | Getty Images News | Getty ImagesThose areas were shaken anew Sunday by a magnitude 3.9 aftershock, according to the U.S. Geological Survey. Aid offers poured in from around the world, and the U.N. said it had a team in Morocco coordinating international support. watch nowA Spanish search-and-rescue team arrived in Marrakech and headed to the rural Talat N'Yaaqoub, according to Spain's Emergency Military Unit. I was saved by my neighbors who cleared the rubble with their bare hands," said Fatna Bechar in Moulay Brahim.
Persons: Davide Bonaldo, Arnaud Fraisse, Salah Ancheu, Ancheu, , Carl Court, King Mohammed VI, Talat, José Manuel Albares, Jana Cernochova, Fatna Organizations: Getty, People, United Nations, United, Moroccan, Interior Ministry, Rescuers, Carl, . Geological Survey, Aid, Unit . Foreign, Czech Locations: el, Morocco, Marrakech, United States, France, Spain, Qatar, Britain, United Arab Emirates, Paris, Amizmiz, Moulay Brahim, Al Haouz, Turkey, Germany, Cologne, Bonn, Nice, Czech Republic, Moroccan, Ighil, Al Haouz Province, Moulay
New Delhi CNN —President Joe Biden is nearing the end of a whirlwind trip to India and Vietnam for a series of high-profile meetings aimed at countering China’s influence in the developing world. That’s what this trip is all about, having India cooperate much more with United States, be closer to the United States, Vietnam being closer with the United States. “I think we have an enormous opportunity,” he said, adding: “Vietnam and the United States are critical partners at what I would argue is a very critical time. Here are five takeaways from the president’s trip to New Delhi and Hanoi. Biden tries to pull Vietnam closer to USBiden’s trip to Hanoi was his latest attempt to pull another one of China’s neighbors closer to the United States.
Persons: Joe Biden, Biden, ” Biden, , It’s, Nguyễn Phú, , I’m, ” “ I’m, Biden’s, Narendra Modi, Jake Sullivan, ” Sullivan, Oleg Nikolenko, Xi, Vladimir Putin, Xi Jinping, they’re, Kurt Campbell, Modi, – Biden, Campbell, it’s, ratchets, aggressions, Vietnam’s, Karine Jean, Pierre, Jean, Li Qiang, presser Organizations: New, New Delhi CNN, Communist Party of Vietnam, Sunday, Diplomats, Indian, Foreign, Facebook, , United, United Arab Emirates, World Bank, White, White House, Korean, Communist, Communist Party, Biden, CNN Locations: New Delhi, India, Vietnam, Hanoi, Asia, Beijing, China, United States, Ukraine, ” Russia, Russia, Ukrainian, East, Europe, United Kingdom, Japan, United Arab, Bali, Philippines, South China
Julien Farel puts the finishing touches on tennis player Austin Krajicek's hair at Arthur Ashe Stadium in New York on August 30. Will Lanzoni/CNNA tennis ball sits in a display case at Farel's salon inside Arthur Ashe Stadium in New York. Video Ad Feedback He usually charges $1250, but US Open players get this little known perk for free 02:28 - Source: CNNFarel’s salon at Arthur Ashe does not take appointments. Zverev, in particular, has earned a nickname for his mane: the “Lion.”“For women, I always love bangs, and layers on long hair,” Farel continued. Tennis player Austin Krajicek shows off a fresh haircut at Julien Farel's salon inside of Arthur Ashe stadium in New York on August 30.
Persons: Borna Gojo, Novak Djokovic, Novak, He’s, Gojo, Venus Williams, Andre, Roger Federer’s, Billie Jean King’s, Julien Farel, Austin Krajicek's, Arthur, Will Lanzoni, Arthur Ashe, , ” Julien Farel, Austin Krajicek, Jessica Pegula, Magdalena Fręch, Farel, , Rafael, Nadal’s, ” Farel, Nadal, he’s, Julien Farel's, Sascha Zverev’s, Zverev, Gabriela Sabatini’s, Caroline, Coco Gauff, Carlos Alcaraz, Alcaraz, Gauff, “ I’ve, Jimmy Connors, Martina Navratilova’s Organizations: York, York City CNN —, verve, Gojo, Wimbledon, CNN, Farel, , Tennis, August’s, Washington , D.C Locations: York City, Flushing , New York, New York, France, Farel, New York City, Palm Beach , Florida, Manhattan, Farel's, Washington ,
But as it turns out, I was just not using my imagination, because this year’s Burning Man was an absolute nightmare. casey newtonA bit more of a Drowning Man than a Burning Man, I have to say. kevin rooseYeah, so as someone who’s been to Burning Man, I was fascinated by just the logistics of it all, because it is already a mess to get in and out of Burning Man. kevin rooseSo you are, in addition to a Burning Man escapee this year, you’ve been actually going to Burning Man for a long time. When I say I don’t know what happened, I don’t know what happened to prompt the things that were being directed at us.
Persons: casey newton, kevin roose, I’ve, KEVIN, casey newton It’s, you’ve, it’s, I’ll, casey newton What’s, kevin roose Bluetooth, Kevin Roose, ” casey newton, Casey Newton, Jonathan Greenblatt, Elon, Kevin, casey newton Oh, casey newton You, “ shay, denfreude, kevin roose Schadenfreude, shay, who’s, It’s — casey newton, casey newton That’s, Smart, casey newton Ugh, kevin roose —, casey newton Right, — casey newton, kevin roose What’s, casey newton Sure, ” casey newton Never, Adrian Aoun, He’s, ” adrian aoun, adrian aoun, Larry Page, Adrian, I’m, casey newton Amen, here’s, you’d, we’ve, you’re, Larry, roose, Max, Harry Potter, adrian aoun I’m, they’re, adrian aoun —, , Rice Krispie, kevin roose Wow, let’s, adrian aoun Oh, adrian aoun She’s, She’s —, We’re, wrenches, hitchhike, I, Gerlach, kevin roose She’s, Y, It’s, They’re, — you’re, casey newton We’re, it’s Elon Musk, Elon Musk, Mark Zuckerberg, Donald Trump, West, kevin roose It’s, Casey, casey newton Well, Linda Yaccarino, Jonathan, kevin roose Jonathan, ” jonathan greenblatt, jonathan greenblatt, CHUCKLES, I’d, Linda, kevin roose You, Nick Fuentes, haven’t, Kevin —, that’s, what’s, we’re, casey newton I’ve, jonathan greenblatt I’m, We’ve, — what’s, Here’s, That’s, John, , , CASEY, kevin roose Totally, Hank Green, Hank, ” Hank, hank, It’s Hank, Ben Shapiro, kevin roose Hank, Diana Dionisio, Diana, Snapchat, Jay Hepler, Jay, ” Casey, don’t, casey newton Really, casey newton I’m, Holly Godfrey, Holly, Kevin Scott, Kevin Scott’s, Bing, Rachel Cohn, Jen Poyant, Caitlin Love, Chris Wood, Dan Powell, Elisheba Ittoop, Marion Lozano, Paula Szuchman, Tam, Nell Gallogly, Kate LoPresti, Jeffrey Miranda, CASEY CHUCKLES Organizations: The New York Times, Defamation League, porta, Electric, Google, Labs, Black Rock, casey newton Fair, Burning, Reno, Defamation, Elon, Labor, Twitter, Center, ADL, Nazi, Anti, Twitter’s Trust, Safety, OG, YouTube, Cato Institute, US, Microsoft, Kevins, Davis Locations: Nevada, La Habra , California, Spanish, East, Iraq, Coachella, Bay, Solano County, Toronto, San Francisco, Silicon Valley, Hogwarts, playa, Haiti, Dunkirk, , Gerlach, LA, New York, Reno, it’s Reno, America, Florida, chemo, Tokyo, That’s, hardfork@nytimes.com
New boss will be EIB’s chance to stay relevant
  + stars: | 2023-09-07 | by ( Rebecca Christie | ) www.reuters.com   time to read: +5 min
Flags are seen behind the logo of the European Investment Bank in the city of Luxembourg, Luxembourg, March 25, 2017. Reuters/Eric Vidal Acquire Licensing RightsBRUSSELS, Sept 7 (Reuters Breakingviews) - The European Investment Bank has a chance to remake itself when it gains a new leader next year. The EIB has been making infrastructure loans since 1958, and now channels some 65 billion euros in annual financing to the economy. To do that, the next EIB chief will need to let the bank shoulder more risk, as suggested by Vestager on Thursday. By comparison, the World Bank has $240 billion loans outstanding.
Persons: Eric Vidal, Werner Hoyer, Nadia Calviño, Denmark’s Margrethe Vestager, Daniele Franco, Teresa Czerwińska, Thomas Östros, Vestager, Margrethe Vestager, Spain’s Nadia Calviño, Poland’s Teresa Czerwińska, Italy’s Daniele Franco, Sweden’s Thomas Östros, Denmark’s Vestager, Neil Unmack, Streisand Neto Organizations: European Investment Bank, Reuters, Rights, Spanish, World Bank, AAA, European Union, Financial Times, European Investment, Union, Thomson Locations: Luxembourg, Rights BRUSSELS, Italian, Europe, Ukraine, France, Spain
Revenue was 67.96 billion Chinese yuan ($9.33 billion), up 33.4% from 50.93 billion yuan posted in the same period a year ago. The firm also swung to profit of 4.69 billion Chinese yuan for the second quarter, compared to a loss of 1.11 billion Chinese yuan a year ago. Many merchants had to suspend their business, while consumers chose to stock packaged food instead of ordering fresh food delivery. Meituan leads China's food delivery market, holding almost 70% of the market share in the mainland, according to a 2022 report on Meituan. Besides food delivery, the tech firm also operates various services including ride-hailing, on-demand delivery, hotel and travel booking, movie ticketing, entertainment and lifestyle services.
Persons: Yan Cong, Wang Xing, Wang, Meituan, Doksuri, Xiaolin Chen, Chen, CNBC's, Pony.ai Organizations: Bloomberg, Getty, Revenue, Consumers, Hong, HK, Fitch Locations: Beijing, China, Yan, Hong Kong, Tianjin, Hebei, Shanxi, Henan, KraneShares
London CNN —British police on Monday said it will take no further action following an investigation into an alleged cash-for-honors scandal linked to one of King Charles III’s charities. As is traditional when the monarch returns to the Scottish residence for the summer, a small ceremony was held outside the castle gates. King Charles inspected an honor guard formed of the Balaklava Company, 5th Battalion The Royal Regiment of Scotland. The 4 SCOTS Pipes and Drums performed at the ceremony, and Shetland Pony Corporal Cruachan IV, the royal regiment’s mascot, was also present. The King was recently announced as Colonel-in-Chief of The Royal Regiment of Scotland, taking on the role from his late mother, Queen Elizabeth II.
Persons: King Charles III’s, Michael Fawcett, Mahfouz Marei Mubarak bin Mahfouz, Buckingham, , King, King Charles, Pipes, Cruachan IV, Queen Elizabeth II Organizations: London CNN, British, Metropolitan Police, Foundation, Saudi, Sunday Times, British Empire, Prince’s, , Balaklava Company, 5th Battalion, Royal Regiment of Scotland, The Royal Regiment of Scotland Locations: British, Balmoral
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