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☆ Markets are rebounding after Monday's massive meltdown, making rate decisions harder for the Fed
▼ + stars: | 2024-08-06 | by ( Huileng Tan | ) www.businessinsider.com time to read: +4 min

Read previewMarkets are rebounding after Monday's meltdown, injecting challenges into central banks' interest-rate decisions. The market volatility is due to a mix of factors including poor earnings results from several tech giants and a weak July payroll report. AdvertisementSome analysts are speculating that the BOJ rate cut was because it was under political pressure to shore up the floundering yen, Bloomberg reported on Monday. Related storiesGoing forward, the BOJ could have a harder time with the timing of its rate hike decisions. Talks of an emergency rate cutThe market selloff has also made the Fed's rate hike timing harder.

Persons: —, Kospi, Taiwan's Taiex, Kyle Rodda, It's, Vishnu Varathan, Mizuho Bank's, Capital.com's Rodda Organizations: Service, Business, Bank of Japan, US Federal Reserve, —, Bloomberg, Nikkei, Japan's, of Finance, Financial Services Agency Locations: Japan, Asia

☆ Nvidia is on an acquisition spree even as regulatory scrutiny heats up and AI M&A cools
▼ + stars: | 2024-08-05 | by ( Emma Cosgrove | ) www.businessinsider.com time to read: +5 min

According to public announcements, the firm has made four acquisition deals so far in 2024, exactly even with Nvidia's 2020 deal total. Nvidia declined to discuss its acquisition strategy for this report, citing a quiet period before it announces earnings on August 28. In May, Nvidia agreed to acquire Deci AI, another Israeli startup that makes tools for developers to build AI models, for $300 million. In July Nvidia competitor AMD announced an agreement to acquire Silo AI, a Finnish AI startup, for $655 million. And this quiet trickle of deals in various forms is unlikely to stop since the market for AI talent is so tight.

Persons: —, Nader Khalil, Colette Kress, Kress, it's, OpenAI, Paul Baier, GAI, Baier, Umesh Pavdal, Thomvest Organizations: Service, Nvidia, Microsoft, Department of Justice, Federal Trade Commission, Business, ARM, Softbank, Politico, Shoreline, LinkedIn, Citi Global, DOJ, FTC, Amazon, AMD, Silo Locations: Israeli, California, San Francisco, Finnish

☆ We’re about to get the most detailed explanation yet for Boeing’s terrifying mid-air blowout
▼ + stars: | 2024-08-05 | by ( Chris Isidore | ) edition.cnn.com time to read: +8 min

It was a combination of the skill of the flight crew and good luck that no one was killed. But there were problems with five rivets near where the door plug was installed, and Boeing workers removed the door plug in order to fix those rivets. It would have had much more difficulty making it safely to the ground if the door plug had failed hours, rather than minutes, from the nearest runway. But the probe is only one of the problems Boeing faces because of the incident. He has faced harsh criticism for many of Boeing’s problems, with more than a dozen whistleblowers at the company complaining to congressional investigators that they faced pressure and retaliation for flagging safety problems in the company’s assembly process.

Persons: Max, Dave Calhoun, Kelly Ortberg, Rockwell Collins, Calhoun, haven’t, Josh Hawley, ” Organizations: New, New York CNN, Alaska Airlines, Boeing, Max, National Transportation Safety Board, NTSB, FBI, Federal Aviation Administration, Justice Department, FAA, DOJ, Rockwell, Capitol Locations: New York, Alaska, Renton , Washington, Hawaii

Villepinte, France CNN —Algerian boxer Imane Khelif won her women’s 66kg welterweight quarterfinal bout by unanimous points decision against Hungary’s Anna Luca Hamori on Saturday, guaranteeing herself an Olympic medal in front of a near-capacity crowd that ardently had her back. The stadium had a significant Algerian presence, many on their feet, waving flags or scarves in support of Khelif. Imane Khelif will receive a medal at these Olympics. Khelif was born a woman and International Olympic Committee President Thomas Bach said Saturday that the organization firmly supported the Algerian. Fans gathered to support Imane Khelif.

Persons: Imane Khelif, Hungary’s Anna Luca Hamori, Hamori, Isabel Infantes, Angela Carini, Carini, Khelif “, Khelif, Thomas Bach, Bach, ”, ” Bach, ” Khelif, Katie Goodale, Reuter “, “, Suwannapheng Organizations: France CNN, North Paris Arena, International Olympic, Hamori, USA, Sports, CNN Locations: Villepinte, France, Algerian, Khelif, Algeria

☆ 10 biggest stories of the first week of the 2024 Summer Olympics
▼ + stars: | 2024-08-03 | by ( Kyle Feldscher | ) edition.cnn.com time to read: +15 min

The 2024 Summer Olympics are heading into their second weekend, and it’s truly been one for the history books. Turkey's Yusuf Dikec competes in the shooting 10m air pistol mixed team gold medal match during the Paris 2024 Olympic Games at Chateauroux Shooting Centre on July 30, 2024. Aleksandra Szmigiel/ReutersFrench athletes wave flags as they sail in a boat on the river Seine during the opening ceremony for the 2024 Summer Olympics in Paris, France, Friday, July 26, 2024. Fabrice Coffrini/AFP/Getty ImagesFrance's Anthony Jeanjean competes in the Men's Cycling BMX Freestyle Park Final during the Paris 2024 Olympic Games in Paris, on July 31, 2024. Emmanuel Dunand/AFP/Getty ImagesVisitors take pictures of the Olympic cauldron as it rises high after sunse on day two of the Olympic Games Paris 2024 at on July 28, 2024 in Paris, France.

Persons: it’s, Simone Biles ’, Léon, Simone Biles, Naomi Baker, she’s, Biles, Read, Léon Marchand, Gold, Leon Marchand, Quinn Rooney, he’s, Marchand, “, ”, Philippe Katerine, Dionysus, Katerine, ” Katerine, Anne, Christine Poujoulat, drenching, Cassandre Beaugrand, Alex Yee, New Zealand’s Hayden Wilde, Wilde, Yee, Novak, Serbia's Novak Djokovic, Lorenzo Musetti, Clive Brunskill, Rafael Nadal, Andre Agassi, Steffi Graf, Serena Williams, Djokovic, Nadal, Spain’s Carlos Alcaraz, Ilona Maher, Maher, Andy Murray, Murray, American’s Taylor Fritz, Tommy Paul, Dan Evans, Andy Murray’s, Kim Yeji, Charles McQuillan, there’s Yusuf Dikeç, Kim, Turkey's Yusuf Dikec, Alain Jocard, Dikeç, Imane Khelif, Angela Carini, dislodging, Carini, Mark Adams, ” Khelif, WADA, CHINADA –, Aleksandra Szmigiel, Franck Fife, Yoshimura Miho, Rwanda's Tufaha, Fabrice Coffrini, France's Anthony Jeanjean, Emmanuel Dunand, Maja Hitij, Amy Woodyatt, Patrick Sung, Gul Tuysuz, Jessie Yeung, Saskya Vandoorne, Ben Church, George Ramsay, Scottie Andrew, Chris Liakos, Simone McCarthy, Andrew McNicol, Kara Fox Organizations: Paris CNN, Paris Olympics, Olympic, Team United, Olympic Games, Bercy Arena, USA, Team France, Paris La Defense, La Défense, Games, CNN, Catholic, French Catholic Church, Paris, Getty, Wimbledon, US, rugby, Team USA, Australia, tennis Shooters, Team Republic of, Chateauroux Shooting, Olympic Committee, Tokyo, China’s, Doping Agency, Tokyo Games, Eiffel, Reuters, Palais Locations: Paris, France, Tokyo, Nanterre, French, AFP, Seine, New, Italy, Los Angeles, Team Republic of Korea, Chateauroux, South Korea, Turkey, Turkish, Beijing

☆ China securities official expected to lead Shenzhen stock exchange, Reuters reports
▼ + stars: | 2024-08-02 | by ( ) www.cnbc.com time to read: +2 min

A woman walks by the gate of the Shenzhen Stock Exchange on Aug. 20, 2020 in Shenzhen, Guangdong Province of China. VCG | Visual China Group | Getty ImagesChina is expected to appoint a senior securities official to head its second-largest bourse, four sources said, filling a role that has been vacant for the unusually long period of seven months as the securities regulator reshuffled its leadership. Li Jizun, a civil servant who is now director of the general office at the China Securities Regulatory Commission (CSRC), is set to become general manager of the 27-trillion-yuan ($3.73-trillion) Shenzhen Stock Exchange, the sources said. The CSRC and the Shenzhen exchange did not immediately respond to a faxed request for comment. Sha had worked at the securities regulator for more than two decades before taking over at the Shenzhen exchange in mid-2020, after her predecessor Wang Jianjun was promoted to the party chief role before returning to the regulator as a vice chairman.

Persons: Li Jizun, Li, Sha Yan, Sha, Wang Jianjun Organizations: Shenzhen Stock Exchange, Visual China, Getty, bourse, China Securities Regulatory Commission, State Council, Shanghai's Nasdaq, Communist Party Locations: Shenzhen, Guangdong Province of China, China, Beijing, U.S

☆ Agency Votes to Replace Official Accused of Rushing Start of Seabed Mining
▼ + stars: | 2024-08-02 | by ( Eric Lipton | ) www.nytimes.com time to read: +1 min

The international agency charged with regulating seabed mining worldwide voted on Friday to replace its top executive, after accusations that the British lawyer running the agency was too closely aligned with the mining industry. Leticia Carvalho, an oceanographer from Brazil and a United Nations environmental regulator, was elected by a 79-to-34 vote by the nations that run the International Seabed Authority to replace Michael Lodge, a lawyer who has overseen the agency for nearly eight years. “I can’t wait to start to work with state parties and stakeholders at this honorable organization,” Ms. Carvalho said after the vote, which was done by secret ballot. Mr. Lodge has been a polarizing figure at the seabed authority, which has jurisdiction over any future mining in international waters. Environmentalists have argued that he worked behind the scenes with private contractors to try to accelerate the start of mining.

Persons: Leticia Carvalho, Michael Lodge, “, ” Ms, Carvalho, Lodge Organizations: United, Authority Locations: Brazil, United Nations

☆ Who is Imane Khelif and why is her Olympic boxing win marred by controversy?
▼ + stars: | 2024-08-02 | by ( Kara Fox | ) edition.cnn.com time to read: +8 min

Khelif has become a flashpoint for an often misinformed debate about how women are allowed to compete in sports. As Khelif prepares for her next fight on Saturday, here’s what to know:Who is Imane Khelif? Algeria's Imane Khelif (R), is seen after defeating Italy's Angela Carini in the women's 66kg preliminary boxing match at the 2024 Summer Olympics in Paris on Thursday. Many athletes have written in support of Khelif, including Irish boxer Amy Broadhurst – who fought and beat Khelif in the World Championships. Female athletes that have differences of sexual development (DSD) are often subject to such tests.

Persons: Imane Khelif, Angela Carini, dislodging, Carini, Mark Adams, ” Adams, Khelif, Italy's Angela Carini, John Locher, “, Lin Yu, Adams, Donald Trump, Elon Musk, JK Rowling, Logan Paul, ” Rowling, Giorgia Meloni, ”, Amy Broadhurst –, Broadhurst, Lin, Semenya, CNN’s Saskya Vandoorne, Camille Knight, Natasha Maguder, Eliza Anyangwe Organizations: CNN, Olympic Committee, Boxing, IBA, Games, IOC, WWE, Algerian Olympic, Human Rights Watch, Paris Games, DSD, European, of Human Rights Locations: Algerian, Italy, Paris, “, Algeria, Budapest

☆ Biogen beats expectations, hikes outlook as Alzheimer's drug Leqembi and other new products gain traction
▼ + stars: | 2024-08-01 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +4 min

Biogen on Thursday reported second-quarter earnings and revenue that topped estimates and hiked its full-year guidance, as the company's cost cuts showed progress and sales of its breakthrough Alzheimer's drug, Leqembi, and other new products beat expectations. Leqembi, which Biogen shares with Eisai, became the second drug proven to slow the progression of Alzheimer's to win approval in the U.S. last summer. That's above the $31 million analysts had expected, according to estimates compiled by StreetAccount. Tecfidera, for example, booked $252.2 million in revenue in the second quarter, which is relatively flat from the year-earlier period. Analysts had expected the once-blockbuster drug to rake in $233.3 million in revenue for the quarter, according to StreetAccount.

Persons: Biogen, StreetAccount, Leqembi, Drug Administration greenlit Skyclarys, Biogen's Organizations: Eisai, LSEG, Reata Pharmaceuticals, Drug Administration, Sage Therapeutics Locations: U.S, Europe

☆ China securities regulator promotes law enforcement chief to vice chair
▼ + stars: | 2024-07-31 | by ( ) www.cnbc.com time to read: +1 min

A China Securities Regulatory Commission sign is seen at the regulator's headquarters on November 16, 2020 in Beijing. China's securities regulator on Tuesday promoted its head of law enforcement to the role of vice chairman, underscoring Beijing's determination to tighten oversight of its $5.1 trillion stock market. Li Ming, chief of the enforcement bureau of the China Securities Regulatory Commission, will replace vice chairman Fang Xinghai, the CSRC said in a statement, citing a decision by China's State Council, or cabinet. The CSRC has pledged to regulate the market with "teeth and thorns" under chairman Wu Qing. Prior to the promotion, Li headed the enforcement bureau, which is responsible for probing illegal securities activities, handing criminal cases to the relevant authorities and facilitating cross-border investigations.

Persons: underscoring, Li Ming, Fang Xinghai, Fang, Xi Jinping, CSRC, Wu Qing, Li Organizations: China Securities Regulatory, China Securities Regulatory Commission, China's State Council, Reuters Locations: China, Beijing, Europe, United States

☆ Boeing names new CEO after losses more than triple
▼ + stars: | 2024-07-31 | by ( Chris Isidore | ) edition.cnn.com time to read: +5 min

Boeing announced Robert “Kelly” Ortberg, the former CEO of supplier Rockwell Collins, will be its new CEO, effective August 8, replacing retiring Boeing CEO Dave Calhoun, who has been under fire for the company’s problems. Serious problems to solveOrtberg will have his hands full fixing the problems at Boeing, which has not posted a profitable year since 2019. It recently agreed to plead guilty to charges that its employees defrauded the Federal Aviation Administration during the original certification process for the 737 Max. The company has come under renewed scrutiny since a 737 Max plane’s door plug blew off shortly after takeoff in January. But that will keep the losses building at Boeing as it can’t make money at its current level of production.

Persons: Robert “ Kelly ” Ortberg, Rockwell Collins, Dave Calhoun, Ortberg, I’m, ”, ” Ortberg, Dennis Muilenburg, “ Kelly, Steven Mollenkopf, ” Rockwell Collins, Max Organizations: New, New York CNN, Boeing, Texas Instruments, United Technologies, Collins Aerospace, Federal Aviation Administration, FAA, Air Force Locations: New York

☆ Boeing taps former Collins Aerospace CEO Kelly Ortberg to replace Dave Calhoun
▼ + stars: | 2024-07-31 | by ( Leslie Josephs | ) www.cnbc.com time to read: +2 min

Kelly Ortberg, chief executive officer of Rockwell Collins Inc., stands for a photograph at the company's production facility in in Manchester, Iowa, U.S., on Wednesday, Aug. 31, 2016. Boeing has named Robert "Kelly" Ortberg to succeed CEO Dave Calhoun, picking a longtime aerospace veteran from outside the company as the manufacturer scrambles to regain its footing from safety and manufacturing crises. Ortberg, 64, previously led major aerospace supplier Rockwell Collins, which later became Collins Aerospace, and the business is now part of industry behemoth RTX . His appointment Wednesday came alongside Boeing's second-quarter results, which revealed a wider-than-expected loss and a 15% drop in sales. "Kelly is an experienced leader who is deeply respected in the aerospace industry, with a well-earned reputation for building strong teams and running complex engineering and manufacturing companies."

Persons: Kelly Ortberg, Robert " Kelly, Ortberg, Dave Calhoun, Rockwell Collins, Boeing's, Calhoun, Kelly, Steven Mollenkopf Organizations: Rockwell Collins Inc, Boeing, Rockwell, Collins Aerospace Locations: Manchester , Iowa, U.S

☆ A school used facial recognition tech for cafeteria payments. An internet law expert says it's rarely worth the risk.
▼ + stars: | 2024-07-31 | by ( Nora Redmond | ) www.businessinsider.com time to read: +1 min

A school in England broke the law for using facial recognition technology for lunch payments. The UK's data protection regulator reprimanded the school for not assessing the risks to the students' information. An internet law professor has warned of issues surrounding bias and the onward use of data collected. AdvertisementA school in England broke the law when it introduced facial recognition technology to take student lunch payments. The UK's data protection regulator issued a formal reprimand to a 1,200-pupil high school in Essex, a county in southeast England, for not conducting a data protection impact assessment before installing the FRT.

Persons: — Organizations: Service, Business Locations: England, Essex

☆ Elon Musk said Tesla robotaxi skeptics should try ‘full self driving.’ A Wall Street analyst nearly crashed
▼ + stars: | 2024-07-30 | by ( Chris Isidore | ) edition.cnn.com time to read: +5 min

New York CNN —Tesla CEO Elon Musk says anyone who doubts how valuable robotaxis will make the company should test drive its latest self-driving car. A Wall Street analyst did just that – and said the car almost crashed. The experience of WIlliam Stein, an analyst with Truist Securities, is not unique; others have also reported problems with Tesla’s full self driving, or FSD, feature. But a note from Stein raises questions as to whether the autonomous driving and robotaxis Musk is betting Tesla’s future on are as close as he claims. Tesla’s FSD driver-assist feature is sold as an $8,000 option.

Persons: Elon Musk, WIlliam Stein, Stein, Tesla’s, ”, Truist’s Stein, Yuki Iwamura, Musk, That’s, “, ” Musk, ” Tesla, FSD Organizations: New, New York CNN, Truist Securities, Tesla, Bloomberg, Traffic Safety Administration, NHTSA Locations: New York, ”

☆ Patients on Alzheimer's drug Leqembi see benefits over three years, Eisai study says
▼ + stars: | 2024-07-30 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +3 min

The newly FDA approved Alzheimer's treatment Leqembi is prepared at Abington Neurological Associates in Abington, PA., on Tuesday, November 7, 2023. The breakthrough Alzheimer's drug Leqembi slowed disease progression in patients over three years, demonstrating the need for them to stay on the treatment long term, according to new data released Tuesday by Japanese drugmaker Eisai. The study results on Leqembi, which Eisai shares with Biogen , also found that a patient's Alzheimer's disease worsens after they stop treatment. The results are a first glimpse at what Alzheimer's patients' future could look like on therapies such as Leqembi, which is currently taken twice a month through an infusion. By 2050, the number of Alzheimer's patients is projected to rise to almost 13 million in the U.S.

Persons: Lynn Kramer, Leqembi, Eisai, Kramer Organizations: FDA, Abington Neurological Associates, Biogen, CNBC, Alzheimer's Association International Conference, Alzheimer's Association Locations: Abington, Abington , PA, U.S, Philadelphia

☆ Google-parent Alphabet's partnership with AI firm Anthropic under investigation in the UK
▼ + stars: | 2024-07-30 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +1 min

In this photo illustration, the Alphabet Inc. logo seen displayed on a smartphone screen and the Google logo in the background. Britain's competition regulator on Tuesday said that it is investigating to see if Google parent Alphabet's partnership with artificial intelligence startup Anthropic has resulted in reduced competition. The regulator has invited comments from interested parties before beginning a formal investigation. An Anthropic spokesperson told CNBC that the company will cooperate with the CMA and "provide them with the complete picture about Google's investment and our commercial collaboration." "We are an independent company and none of our strategic partnerships or investor relationships diminish the independence of our corporate governance or our freedom to partner with others," the spokesperson added.

Organizations: Alphabet Inc, Google, Markets Authority, CNBC, CMA

The global antidoping regulator disclosed on Tuesday that it is investigating why athletes in China and other countries who are testing positive for banned drugs are escaping discipline through claims that they have unwittingly ingested the performance-enhancing substances through food. The statement from the World Anti-Doping Agency came after The New York Times reported earlier on Tuesday on a previously undisclosed case in which two elite Chinese swimmers who tested positive for a powerful steroid in 2022 were cleared late last year after their country’s antidoping authority blamed contaminated hamburgers. It was the third incident in recent years in which China blamed food contamination for positive tests among members of its national swimming team. In its statement on Tuesday, the World Anti-Doping Agency, known as WADA, revealed that at the same time it was looking into how the two swimmers had tested positive, it was also examining the previously undisclosed cases of two other Chinese athletes in different sports — shooting and BMX bike riding — who tested positive in early 2023 for trace amounts of the same banned drug, metandienone.

Persons: WADA Organizations: Doping Agency, The New York Times Locations: China

☆ Amazon can now be held responsible for dangerous products sold on its platform, government
▼ + stars: | 2024-07-30 | by ( Ramishah Maruf | ) edition.cnn.com time to read: +4 min

New York CNN —A US safety regulator announced Tuesday that it voted unanimously to hold Amazon responsible for faulty or unsafe products sold by third-parties on its website and app. The US Consumer Product Safety Commission, tasked with ordering companies to recall dangerous products sold in America, said it found more than 400,000 defective products sold on Amazon’s platform that the online retailer now must recall or face legal consequences. The ruling today underlines the CPSC’s crackdown on products it views as unsafe. The agency first sued the mega-retailer in 2021, when it said it was cracking down on Amazon because it has limited ability to force a recall of foreign products. Amazon claims in a statement when it was notified about the potential safety issues, it “swiftly notified customers, instructed them to stop using the products, and refunded them.”CNN’s Chris Isidore contributed to this report.

Persons: Joe Biden, “, CPSC, Robert Adler, ”, CNN’s Chris Isidore Organizations: New, New York CNN, US Consumer Product Safety Commission, Amazon, Consumer Locations: New York, America

☆ In Harris, business leaders tired of Biden see a potential friend
▼ + stars: | 2024-07-30 | by ( Matt Egan | ) edition.cnn.com time to read: +7 min

Some business leaders and wealthy donors are hopeful that Harris will adopt more centrist policies as she outlines her agenda, especially by dialing back Biden-era antitrust crackdowns. “CEOs are wildly excited about Harris,” Jeffrey Sonnenfeld, founder and president of the Yale Chief Executive Leadership Institute, told CNN in a phone interview. Sonnenfeld pointed to confidence that Harris will protect the rule of law and hopes for recalibrated trade, regulatory and tax policies. Meanwhile, Harris, somewhat of an unknown commodity on business policy, hasn’t said much about where she stands. Another key sticking point is energy, where Trump has tried to blame the Biden-Harris administration for periods of high gas prices.

Persons: Kamala Harris, Harris, Biden, ” Jeffrey Sonnenfeld, Sonnenfeld, Lina Khan, Khan’s, hasn’t, “, ”, Greg Valliere, Democratic megadonor Reid Hoffman, Khan, Hoffman, Barry Diller, Diller, It’s, ” Diller, ‘, haven’t, PCCC, Adam Green, Harris –, ” Green, Lina Khan –, ” Sonnenfeld, “ It’s, Douglas Farrar, Donald Trump, Joe Biden, Trump, ” Trump, “ You’re, Lauren Hitt, didn’t Organizations: New, New York CNN, Biden, Big Tech, Democratic, Yale, Leadership, CNN, Federal Trade Commission, Progressives, AGF Investments, Business, Big Oil, Microsoft, FTC, “, Activision, CNBC, IAC, Progressive, Khan, Public Citizen, AFL, NAACP, Harris Administration Locations: New York, North Carolina

☆ Federal regulator says Amazon can be held responsible for faulty goods sold on its marketplace
▼ + stars: | 2024-07-30 | by ( Annie Palmer | In Annierpalmer | ) www.cnbc.com time to read: +4 min

Federal regulators have determined that Amazon can be held responsible for defective goods sold by third-party merchants on its online marketplace, rejecting the company's position that it's merely an intermediary between consumers and sellers. Amazon's marketplace, which hosts millions of third-party sellers, now accounts for approximately 60% of the company's e-commerce sales. The company has previously said it invests hundreds of millions of dollars per year to ensure products sold are safe and compliant. At issue were 418,818 goods sold through Amazon, including faulty carbon monoxide detectors, hairdryers without electrocution protection and children's sleepwear that posed a burn risk. This program gives Amazon "far-reaching control" over the products sold on its platform, the judge said.

Persons: it's, It's, they're Organizations: U.S . Consumer Product Safety Commission, Amazon, Consumer Locations: Robbinsville , New Jersey, U.S, Tennessee

☆ China’s LGBTQ+ community celebrates rare scenes from Paris Olympics but internet is divided
▼ + stars: | 2024-07-30 | by ( Chris Lau | ) edition.cnn.com time to read: +7 min

These are among the images that France, the organizer of the Paris 2024 Olympics, presented to the world during the opening ceremony last week. The clampdown has made it all the more striking when scenes of gay men and drag queens from the Paris Olympics opening ceremony made it onto Chinese state broadcaster CCTV. On social media site Weibo, the “#Paris opening ceremony is really cool# hashtag has generated more than 600 million views over the past four days. “Those who didn’t stay up late to watch the Olympic opening ceremony tonight missed out big time. #Paris opening ceremony is really cool#The ceremony remained the top trending topic on Weibo for more than 15 hours starting Saturday.

Persons: Xi Jinping, Ken Huang, ”, Jeremy Goupille, Natacha, Leonardo da Vinci’s, Christian, French, Suen, Aritists, Athena de Martel, ” Suen, Netizens Organizations: Hong Kong CNN, Paris, Weibo, Pride House, Paris Olympics, Communist Party, Chinese University of Hong, House, ” Locations: China, Hong Kong, France, Paris, Beijing, Shanghai, Chinese University of Hong Kong, Weibo

☆ Russia considers legalizing crypto for global payments as it faces ongoing sanctions
▼ + stars: | 2024-07-30 | by ( Ryan Browne | ) www.cnbc.com time to read: +2 min

Illustrative image of two commemorative bitcoins seen in front of the national flag of Russia displayed on a computer screen. Russia is considering legalizing the use of cryptocurrency for international payments as the country faces ongoing financial pressure from Western sanctions. The State Duma, which is the lower house of the Russian Parliament, will on Tuesday consider a law that permits making international payments via cryptocurrencies, Elvira Nabiullina, the governor of Russia's central bank, said Tuesday. Russia's central bank is also itself looking to move money across borders using crypto, with its chief saying crypto-based payments will take place before the end of 2024. In January 2022, the Russian central bank proposed banning the use of crypto for transactions, as well as the mining of digital currencies, citing threats to financial stability, citizens' wellbeing and monetary policy sovereignty.

Persons: Elvira Nabiullina, Nabiullina Organizations: Duma, State Duma, Russian Federation Council, RIA Novosti, Reuters, Russian Embassy, CNBC Tuesday Locations: Russia, Russian, Russia's, State, cryptocurrencies, London

☆ LinkedIn billionaire is going all-in on Kamala Harris. But he wants her to make a big change
▼ + stars: | 2024-07-26 | by ( Matt Egan | ) edition.cnn.com time to read: +7 min

New York CNN —LinkedIn co-founder Reid Hoffman is throwing his financial firepower behind Vice President Kamala Harris. Ohio Sen. JD Vance, the GOP nominee for vice president, is a fan. Harris campaign: No discussions on replacing KhanHoffman told CNN he “certainly” hasn’t directly pushed Harris to replace Khan. A Harris campaign aide told CNN that there have been “no policy discussions” about replacing Khan at the current time. That was a mistake,” Hoffman told CNN.

Persons: Reid Hoffman, Kamala Harris, Hoffman, CNN he’s, Harris, United States ’, Lina Khan, “ Lina Khan, ” Hoffman, Joe Biden, “, Khan, ”, Bernie Sanders, Hoffman Khan, Sen, Mr, Hoffman ”, Massachusetts Sen, Elizabeth Warren, Khan . Ohio Sen, JD Vance, Vance, Biden, Khan Hoffman, hasn’t, Brian Fung, Douglas Farrar, Biden Harris, Harris team’s, ” Farrar, Farrar, “ Trump, Donald Trump, Trump, Steven Cheung, George Soros ”, Mark Cuban, Peter Thiel, Thiel, Arizona Sen, Mark Kelly, Josh Shapiro, Gretchen Whitmer, Gina Raimondo Organizations: New, New York CNN, LinkedIn, Biden, Harris, PAC, CNN, Federal Trade, Democratic, Microsoft, FTC, “, Big Oil, Big Tech, Forward PAC, GOP, Republican, Activision Blizzard, Mattress, Trump, US Chamber of Commerce, Arizona Locations: New York, United States, America, Vermont, Massachusetts, Khan . Ohio, Pennsylvania, Michigan

A question about the future of antitrustNews that Reid Hoffman, the billionaire LinkedIn co-founder and major Democratic donor, wants Vice President Kamala Harris, if she wins in November, to replace Lina Khan as chair of the F.T.C. Senator Bernie Sanders, independent of Vermont, called it “unacceptable,” and Tim Wu, the Columbia Law School professor and former Biden antitrust official, demanded that the Harris campaign return Hoffman’s donations. Khan is perhaps the most consequential regulator for business in the Biden administration, and her fate as F.T.C. chair underscores anxiety among Democrats about how Harris would approach antitrust policy should she become president. So Khan could be stripped of that role and replaced with a colleague, though that could be awkward.

Persons: Reid Hoffman, Kamala Harris, Lina Khan, Bernie Sanders, Tim Wu, Biden, Harris, Khan Organizations: LinkedIn, Democratic, Columbia Law School Locations: Vermont, United States

☆ European drug regulator rejects Alzheimer's treatment Leqembi from Biogen, Eisai
▼ + stars: | 2024-07-26 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +2 min

European drug regulators on Friday rejected the Alzheimer's treatment Leqembi from Biogen and Eisai , creating another hurdle for the companies as they scramble to boost uptake of the therapy in the U.S. But it almost always follows the drug regulator's recommendations. The European Medicines Agency's human medicines committee recommended against granting marketing authorization for Leqembi. Leqembi and Kisunla are milestones in the treatment of Alzheimer's after three decades of failed efforts to develop medicines that can fight the fatal disease. In 2021, the European Medicines Agency rejected Aduhelm.

Persons: Eisai, Leqembi, Eli Lilly, Kisunla, Aduhelm Organizations: U.S, European Commission, U.S . Food, Drug Administration, Medicines, European Medicines Agency, Alzheimer's Locations: Biogen, U.S, Japan, South Korea, China, Israel, Europe, Alzheimer's Europe

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