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☆ Sam Bankman-Fried was just convicted. Where does crypto go from here?
▼ + stars: | 2023-11-03 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +8 min

In today's big story, we're looking at Sam Bankman-Fried's conviction and what it means for the future of crypto. Sam Bankman-Fried, the crypto industry's most recognizable face (and head of hair), was found guilty of seven counts of fraud and conspiracy on Thursday night. Charges against Bankman-Fried included wire fraud, conspiracy to commit wire fraud, conspiracy to commit securities fraud, conspiracy to commit commodities fraud, and conspiracy to commit money laundering. The conviction came, perhaps fittingly, on the first anniversary of the CoinDesk scoop that sent FTX, the crypto exchange Bankman-Fried co-founded and led, into a tailspin. The downfall was swift, with Bankman-Fried resigning as CEO and FTX collapsing just over a week after the initial report.

Persons: —, Katie Notopoulos —, Linda Yaccarino, Sam Bankman, Chelsea Jia Feng Down, Crypto, SBF, FTX, Fried, Katie Balevic, Jacob Shamsian, Katie, Chelsea Jia Feng, Miami —, That's, Brian Snyder Jamie Dimon, Jeff Gundlach, Gundlach, Mike Blake, Jack Dorsey, Samantha Lee, Janet Yallen, Sheryl Crow, Missy Elliott, isn't, Dan DeFrancesco, Naga Siu, Hallam Bullock, Lisa Ryan Organizations: Service, Bankman, Alameda Research, Wall, BlackRock, PayPal, JPMorgan, Microsoft, Tech, Financial, Labor Statistics, Hall, Today Locations: FTX's, New York City, San Diego, London, New York

☆ Bye California: 7 people who fled the state share the culture shocks they've experienced and why they have no regrets
▼ + stars: | 2023-11-01 | by ( Manseen Logan | ) www.businessinsider.com time to read: +10 min

Over 800,000 people left California between 2021 and 2022, according to the Census Bureau. Since moving to San Antonio, Burse told Insider she spends less on gas and groceries and feels more comfortable sharing her opinions. But Hayes was finally able to purchase a home and told Insider he enjoys the cleaner air and clearer skies. "No one is really tackling the problem or communicating what can be done to help those in need," Cheng told Insider. Vered DeLeeuw and her husband left Palo Alto, California, for friendlier MemphisDeLeeuw and her husband recently relocated to Memphis, Tennessee.

Persons: —, Calli Edington, South Georgia Edington, Chelsea Jia Feng, Edington, she's, I'm, Jackie Burse, Antonio Burse, Burse, I've, Davrick Hayes, Bismarck , North Dakota Hayes, Hayes, Janelle Crossan, New Braunfels , Texas Crossan, Chelsea JIa Feng, Crossan, Elisabeth Wykert, Wykert, Joseph, there's, That's, Pengyu Cheng, Austin Cheng, Cheng, Austin, Vered DeLeeuw, DeLeeuw, it's Organizations: Census Bureau, Service, Golden State, Census, Chelsea, Orange County Wykert, Palo, Memphis Locations: California, Cali, Memphis , Missouri, North Dakota, Texas, Northern California, South Georgia, Chelsea, Magalia , California, Douglas , Georgia, Georgia, ultraliberal California, Orange County, San Antonio, LA, Bismarck , North Dakota, Los Angeles, Downey , California, Southern California, New Braunfels , Texas, Costa Mesa , California, Missouri, Kansas City, Brea , California, St, Francisco, Bay, San Francisco, Austin, Palo Alto , California, Memphis , Tennessee, Silicon Valley, Memphis, Southern, Tennessee

☆ We left California and have no regrets: 7 people who fled the state share why and the culture shocks they've experienced in their new locations
▼ + stars: | 2023-11-01 | by ( Manseen Logan | ) www.businessinsider.com time to read: +10 min

Over 800,000 people left California between 2021 and 2022, according to the Census Bureau. Read more: I left California and I'm never going back. Read more: I left California for Texas to begin my new life as a divorcée. But Hayes was finally able to purchase a home and told Insider he enjoys the cleaner air and clearer skies. Vered DeLeeuw and her husband left Palo Alto, California, for friendlier MemphisDeLeeuw and her husband recently relocated to Memphis, Tennessee.

☆ For days Sam Bankman-Fried, the MIT grad who founded FTX, repeatedly told a jury he couldn't remember actions from his time as CEO
▼ + stars: | 2023-10-31 | by ( Katie Balevic | ) www.businessinsider.com time to read: +9 min

It was during those hours of questioning that Bankman-Fried repeatedly said he couldn't recall specific details from his time as CEO of FTX, his now-defunct cryptocurrency exchange. Asked whether his support for regulation in the crypto industry was contingent upon protecting customers, Bankman-Fried testified Monday: "I don't recall that specifically, no." He similarly struggled to recall whether he ever mentioned to the public that while trading on FTX, Alameda didn't play by the same rules as other customers. AdvertisementAdvertisementBankman-Fried's instructions as CEO were just 'suggestions'Chelsea Jia Feng/InsiderBankman-Fried insisted on the stand that he didn't recall making various instructions to his employees, especially those like Ellison, Gary Wang, and Nishad Singh. Asked if he instructed Ellison to purchase cryptocurrencies in her capacity as co-CEO of Alameda, Bankman-Fried was vague, saying, "I don't recall an instance.

Persons: Sam Bankman, Lewis Kaplan, —, Fried, Danielle Sassoon, FTX, SBF, FTX's, Judge Lewis Kaplan, Caroline Ellison, Eduardo Munoz Alvarez, Sam Trabucco, beholden, Sassoon, Chelsea Jia Feng, Ellison, Gary Wang, Nishad Singh, I'm, Jane Rosenberg, Gary, Nishad, Ryan Salame, it's, Mark Cohen, Judge Kaplan Organizations: Service, Alameda Research, Alameda, REUTERS Locations: Bankman, Manhattan, Alameda, FTX

☆ Sam Bankman-Fried can't get past the fundamental flaw in his defense strategy
▼ + stars: | 2023-10-30 | by ( Jacob Shamsian | ) www.businessinsider.com time to read: +10 min

He claims that Alameda Research, his crypto hedge fund, was treated the same as everyone else on FTX, his now-collapsed crypto exchange. As Sam Bankman-Fried testifies on the witness stand in his criminal case, he has struggled to get past a core, key contradiction at the heart of his legal defense. On the witness stand, Bankman-Fried suggested his crypto hedge fund was not dissimilar to Jane Street Capital, the traditional trading firm where he worked before founding Alameda. As CEO, Ellison failed to make the trades and investments he suggested to hedge in case of a crypto market downturn, Bankman-Fried testified. Bankman-Fried tried to stress that the market conditions in November 2022, when FTX and Alameda collapsed, were an anomaly.

Persons: Sam Bankman, Fried, that's, —, FTX, Jane Street, Danielle Sassoon, Judge Lewis Kaplan, Elizabeth Williams, Crypto, Sassoon, Chelsea Jia Feng Bankman, Gary Wang, Nishad Singh, Caroline Ellison, Ellison, Wang, Singh, Fried's, Bankman Organizations: Alameda Research, Prosecutors, Service, Alameda, Jane Street Capital, U.S, AP, wasn't Locations: FTX, Alameda, Manhattan, New York, Bankman

☆ China's J-20 stealth jet isn't 'a dominating aircraft,' but it doesn't need to be for what China's military has planned
▼ + stars: | 2023-10-29 | by ( Christopher Woody | ) www.businessinsider.com time to read: +10 min

China's air force continues to improve and expand its fleet of J-20 stealth fighter jets. The J-20 is China's first stealth jet and a growing part of an already sizable aviation force. China's air force and navy now make up the largest aviation force in the region and the third largest in the world. They have a total of 1,900 fighter jets, including J-20s that have been "operationally fielded" by China's air force, according to the US Defense Department. AdvertisementAdvertisementA Chinese jet, believed to be a J-20 prototype, in Chengdu in January 2011.

Persons: —, Wang Jingtian, We've, Brendan Mulvaney, Mulvaney, they've, Rick Joe, Zhang Hui, Kenneth Wilsbach, Wilsbach, Jia Tianyong, Rong Xu Organizations: Service, US Defense Department, US Air Force, Beijing, Getty, WS, Reuters, China Aerospace Studies Institute, Department of, US Pacific Air Forces, Air and Space Forces Association, Air Show, China News Service, Getty Images China, People's Liberation Army, PLA, People's Republic of China, US Air, Pentagon Locations: China, East China, Pacific, Taiwan, Changchun, Chengdu, People's Republic of, China's, Xiamen, Zhuhai, American

☆ Goldman exec exits revealed
▼ + stars: | 2023-10-27 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +7 min

In today's big story, we're taking a deeper look at the number of partner departures at Goldman Sachs under CEO David Solomon. The big storyGoldman exits, by the numbersPaul Morigi/Getty Images; Jenny Chang-Rodriguez/InsiderAt least 210 Goldman Sachs partners have left on David Solomon's watch. It's also higher than Insider's analysis of yearly partner exits during the 14 years before Solomon took over as CEO, which came to 40.4. AdvertisementAdvertisementThe case for SolomonWhile partner departures under Solomon have increased, according to our analysis, it hasn't been a massive bump. Former Goldman partners become future Goldman clients, the bank likes to say.

Persons: —, Céline Dion, Goldman Sachs, David Solomon, What's, Goldman, Paul Morigi, Jenny Chang, Rodriguez, David Solomon's, Dakin Campbell, Emmalyse Brownstein, Walt Hickey, Kaja Whitehouse, It's, Solomon, Tony Fratto, Samantha Lee, hasn't, Lloyd Blankfein —, Solomon's, Solomon isn't beholden, it's, doesn't, Omer Ismail, CHANDAN KHANNA, Chelsea Jia Feng, Sam Bankman, Fried, SBF, Judge Lewis Kaplan, Israel, Duran Duran, Taylor Swift, Blake Shelton, Gwen Stefani, Dan DeFrancesco, Naga Siu, Hallam Bullock, Lisa Ryan Organizations: Service, Goldman, Walmart, Getty, View Press, Investors, Deal, Microsoft, MLB, The Arizona Diamondbacks, Texas Rangers, ExxonMobil, The Locations: Porirua , New Zealand, Chelsea, Israel, Arlington , Texas, Chevron, AutoNation, New York City, San Diego, London, New York

☆ Judge blasts Sam Bankman-Fried for 'interesting' answers on the witness stand to questions about using FTX customer funds
▼ + stars: | 2023-10-26 | by ( Katie Balevic | Jacob Shamsian | ) www.businessinsider.com time to read: +7 min

AdvertisementAdvertisement"Part of the problem is that the witness has what I'll simply call an interesting way of responding to questions," Kaplan said during the hearing. AdvertisementAdvertisementWhen Sassoon asked Bankman-Fried directly if he discussed spending FTX customer deposits with his lawyers, he took a long pause and looked down before he answered the question. Sassoon, questioning Bankman-Fried on the witness stand, asked Bankman-Fried to be more explicit about why he thought that explanation was acceptable. Asked directly by Sassoon if it was OK to steal customer funds, Bankman-Fried rejected that interpretation of events. Sassoon made that clear on Thursday as Kaplan asked for a broad timeline of the rest of the trial.

Persons: Sam Bankman, Fried, —, Lewis Kaplan, Kaplan, Mark Cohen, Danielle Sassoon, Sassoon, Bankman, Chelsea Jia Feng, I'm, Cohen, grumbled, Barbara Fried, " Cohen Organizations: Service, Alameda Research Locations: Manhattan, FTX, Alameda

☆ Caroline Ellison is about to spill the beans on her ex-boyfriend Sam Bankman-Fried
▼ + stars: | 2023-10-10 | by ( Grace Kay | Jacob Shamsian | ) www.businessinsider.com time to read: +7 min

Caroline Ellison is set to testify later today in the criminal case against Sam Bankman-Fried. The former Alameda Research CEO is expected to be a key witness in the case against Bankman-Fried. AdvertisementAdvertisementAll eyes will be on star witness Caroline Ellison when she takes the stand later today in the trial against her ex-boyfriend and former boss Sam Bankman-Fried. They say Bankman-Fried siphoned money from customer accounts to fund crypto bets with Alameda Research, a hedge fund he controlled. Since the exchange collapsed, the former FTX CEO has attempted to put the blame for the platform's collapse on other executives, including Ellison.

Persons: Caroline Ellison, Sam Bankman, Ellison, —, FTX, Eric Chaffee, Prosecutors, Fried, Mark Cohen, Ellison —, Cohen, BRYAN R, SMITH, Jane Street, Gary Wang —, Wang, Adam Yedidia, Chelsea Jia Feng, Yedidia, Caroline, Lewis Kaplan, who's, Michael Lewis Organizations: Alameda Research, Service, Case Western Reserve University, Manhattan Federal, Bankman, Alameda, Research, New York Times, US Department of Justice, US Locations: Bankman, FTX, Alameda, Bahamas, Manhattan

☆ FTX co-founder Gary Wang agreed to cooperate in Sam Bankman-Fried case in his first meeting with prosecutors: 'I thought I was likely to be charged'
▼ + stars: | 2023-10-06 | by ( Katie Balevic | Jacob Shamsian | ) www.businessinsider.com time to read: +4 min

Gary Wang agreed to cooperate with prosecutors in his first meeting with them. "I thought I was likely to be charged and I wanted to get a shorter prison sentence," he testified Friday. AdvertisementAdvertisementOne of his co-conspirators, he said on the witness stand Friday, was his FTX co-founder Bankman-Fried. On Friday, Wang said he wanted to cooperate with prosecutors because he knew what he did at FTX was wrong. "Customers did not agree for us to use their funds," Wang said.

Persons: Gary Wang, Sam Bankman, —, Fried, Wang, FTX, Bankman, Chelsea Jia Feng, he'd Organizations: Service, MIT, Alameda Research, Prosecutors, US, FBI, Alameda Locations: Manhattan, Bankman, FTX, Alameda, Bahamas

"It's very special," said one of Taiwan's female breakers, 25-year-old Yang Jia-li, who added that breaking had massively boosted her confidence. Along with esports' debut as a medal event in Hangzhou, organisers hope "breaking" can help lure young viewers turned off by traditional Games sports. A counter-cultural art-form born in the streets of New York City decades ago, breakdancing is judged against broad criteria in competition. "But before the Olympics we've been doing competitions even in our (underground breaking) culture. “I'm getting used to it and I'm getting used to these sport rules.

Persons: breakdancing, Yang Jia, esports, Sun Zhen, Meng Changqing, Meng, Kim Heon, we've, Kim, I’m, “ I'm, ”, Sun, Ian Ransom, Ken Ferris Organizations: Asian Games, Paris, Sporting, Games, Asian, Thomson Locations: HANGZHOU, China, Eastern, Hangzhou, New York, South Korea

☆ Sam Bankman-Fried isn't the only one on trial. The entire crypto industry is.
▼ + stars: | 2023-10-05 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +9 min

But first, we're looking at why FTX cofounder and ex-CEO Sam Bankman-Fried's criminal trial has implications that could upend the entire crypto industry. Bankman-Fried, the cofounder and ex-CEO of crypto exchange FTX, was deeply enmeshed in the crypto ecosystem. The proceedings will likely provide more fascinating details about the inner workings of FTX and the broader crypto industry, potentially airing out its dirty laundry and shortcomings. Chelsea Jia FengThe crypto industry, meanwhile, is ready to move on. Some in the crypto industry are embracing a more grown-up approach.

Persons: —, Sam Bankman, Donald Trump's, JANE ROSENBERG, Tom Brady, Kevin O'Leary, Michael Lewis, Katie Balevic, Jacob Shamsian, Grace Kay, Mark Cohen, Caroline Ellison, Chelsea Jia Feng, they'll, Spencer Platt, what's, Michael M, Arvind Krishna, Rahul Pandey's, Seth Wenig, AP Trump, scowled, Donald Trump, Tyler Le, Dianne Feinstein's, Kamala Harris, Sen, Chuck Schumer, Marc Anthony, Sofia Reyes, Pluma, Bad, Wells, Dan DeFrancesco, Naga Siu, Hallam Bullock, Lisa Ryan, Annie Smith, Shona Ghosh, Jack Sommers, Spriha Srivastava Organizations: Service, Tech, Chelsea, Financial, Fidelity, PayPal, Visa, Getty, Treasury, Wall, Nvidia, IBM's, Meta, AP, IRS, trailblazing, Grupo Frontera, NBA, Dallas Mavericks, Minnesota Timberwolves, Etihad Arena, The Dallas Mavericks, Etihad, Corporation National Media Locations: crypto's, Plenty, trailblazing California, Abu Dhabi, New York City, San Diego, London, New York

☆ Insider Today: The fight for remote jobs
▼ + stars: | 2023-09-26 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +8 min

Remote workers are doing anything but work in the afternoons. Elena Noviello/Getty ImagesThere are few topics in corporate America as polarizing as remote work. AdvertisementAdvertisementLengthy, expensive office leases might also discourage companies from embracing remote work. As Aki's story points out, that type of rationale from larger companies has created an opportunity for those willing to support remote work. A company's commitment to remote work might not be forever, even if employees view it that way.

Persons: —, Taylor Swift, Travis Kelce, we've, I'm, Chelsea Jia Feng, Insider's Aki Ito, Aki, What's, Elena Noviello, Goldman Sachs, Leonardo Munoz, Rebecca Szkutak, Dominic, Madori Davis, Snyder, Mark Reinertson, Anthropic, Lindsey Nicholson, Jacob Boomsma, Dan DeFrancesco, Naga Siu, Hallam Bullock, Lisa Ryan Organizations: Service, NFL, nab, TechCrunch, Thistle Technologies, Getty, Employees, Costco, Google, Netflix, Cintas Corp Locations: America, Amazon's, Sioux Falls , South Dakota, Jefferson City , Missouri, New York City, San Diego, London, New York

☆ Insider Today: Your knockoff's hidden cost
▼ + stars: | 2023-09-15 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +7 min

Tech: What could become of VMware employees when Broadcom's acquisition closes. What could become of VMware employees when Broadcom's acquisition closes. AdvertisementAdvertisementSo, instead of visiting the company's website, you head to one of the many e-commerce sites offering knockoffs. 3 things in techRaghu Raghuram VMwareLeaked email: The fate of VMware employees as Broadcom acquisition closes. The Insider Today team: Dan DeFrancesco, senior editor and anchor, in New York City.

Persons: Sen, Mitt Romney, Chelsea Jia Feng, Insider's Jennifer Ortakales Dawkins, Counterfeits, Birkin, Dow Jones, Michael M, Ray Dalio, Raghu, —, chatbot, Brooks Kraft, Vivek, crowdfunding, Joe Raedle, JW Anderson, Molly Goddard, Julia Pugachevsky, Dan DeFrancesco, Naga Siu, Hallam Bullock, Lisa Ryan Organizations: Service, Tech, VMware, Yorkers, Bridgewater Associates, Broadcom, Apple, Brooks Kraft LLC, Burberry, Riot Fest Chicago, Foo Fighters, Postal Service, Cutie, Happy National Hispanic, Costa Rica Blue Locations: Wall, Silicon, New York, Queens, Costa Rica, El Salvador, Guatemala, Honduras, Nicaragua, Spain, New York City, San Diego, London

☆ Insider Today: Apple's new iPhone is here
▼ + stars: | 2023-09-13 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +9 min

This post originally appeared in the Insider Today newsletter. But the show's real stars were the new versions of Apple's iPhone and Apple Watch. But if you were hoping a new iPhone will send Apple's stock soaring, think again. Prior to Tuesday's event, Apple's shares fell an average of 0.2% on days a new iPhone was announced, according to Barron's. The Insider Today team: Dan DeFrancesco, senior editor and anchor, in New York City.

Persons: Bond, Elon Musk's, Justin Sullivan, Octavia Spencer, Tim Cook, Max, Insider's Sarah Jackson, Jordan Hart, Lakshmi, iPhones, Gary Coronado, Jamie Dimon, — Warren Buffett —, Bill Gross, DoubleLine's Jeffrey Gundlach, Pimco, DoubleLine's, Gross, Anna Moneymaker, Thomas Trutschel, isn't, Sundar Pichai, Elon, Walter Isaacson, Read, Kent Walker, Chelsea Jia Feng, Patreon, Naomi Osaka, Shaquille O'Neal, Allegra, Dayquil, Jennifer Aniston, Reese Witherspoon, Yelp, Dan DeFrancesco, Naga Siu, Hallam Bullock, Lisa Ryan Organizations: Service, Jets, Apple, Apple Watch, Getty, Bloomberg, JPMorgan, Wall, Google, Software, Amazon, FDA, North American, Detroit Auto, GMC, Bourbon Locations: Wall, Silicon, Milwaukee, Lakshmi Varanasi, ., China, that's, Latvia, Estonia, Chelsea, Colorado, Arizona, Morocco, New York City, San Diego, London, New York

☆ Insider Today: Big Tech goes on trial
▼ + stars: | 2023-09-12 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +10 min

Speaking of Big Tech, it's a big day for the industry as the DOJ's antitrust trial against Google starts today. It's also a strategy the Department of Justice argues is "anticompetitive and exclusionary" in a landmark trial for Big Tech kicking off today. The trial is the biggest to hit the tech industry since the government sued Microsoft in the late 1990s. AdvertisementAdvertisementMore broadly, the case is a bellwether for how the government could argue future cases against Big Tech companies in the modern era. Each case is unique, but their focus on monopolistic behavior means the Google trial could set precedents followed by both sides.

Persons: Tayfun, it's, there's, you'll, It's, Hugh Langley, Kent Walker, Hugh, Walker, Chelsea Jia Feng, Henry Farrell, Abraham Newman's, Walter Wriston's, Gil Perez, Jamie Dimon, JPMorgan doesn't, Dimon, Elon, Franz von Holzhausen, Musk, Walter Isaacson, Yossakorn Kaewwannarat, VCs, they're, Nicki Minaj, Shakira, Beyoncé, Karol G, Frances Tiafoe, Austin Krajicek, Mackenzie McDonald, Tommy Paul, Rajeev Ram, Dan DeFrancesco, Naga Siu, Hallam Bullock, Lisa Ryan Organizations: Service, Big Tech, Google, Anadolu Agency, Getty, Department of Justice, DOJ, Microsoft, Apple, Federal Trade Commission, Amazon, Meta, Deutsche, JPMorgan, Street, Workers, Gallup, Startup, MTV, Team, Amtrak Locations: Wall, Silicon, Chelsea, New York City, San Diego, London, New York

☆ China's Xpeng says German carmakers ready to tackle crisis as EV race hots up
▼ + stars: | 2023-09-06 | by ( ) www.reuters.com time to read: +4 min

REUTERS/Angelika Warmuth/File Photo Acquire Licensing RightsMUNICH, Sept 6 (Reuters) - German carmakers are ready to tackle their worst crisis, an executive at Chinese EV maker Xpeng said on Wednesday, as China's carmakers expand overseas, putting pressure on Europe in the race to electrify. Globally, China leads EV sales, the latest data from tech industry researcher Counterpoint shows. The U.S. has the fastest growing EV sales with Germany in third place. "The Chinese companies are flooding into overseas markets like mushrooms, deepening their sense of crisis," Gu said. German Chancellor Olaf Scholz said EV competition from abroad should be a spur, not a worry for German carmakers.

Persons: Olaf Scholz, Hildegard Mueller, Markus Soeder, Angelika Warmuth, Xpeng, Brian Gu, Gu, Jia Jianxu, Zheng, Zhang Yan, Victoria Waldersee, Josephine Mason, Elaine Hardcastle Organizations: German Association of, Automotive, REUTERS, Rights, HK, IAA, EV, Germany, Reuters, Volkswagen, SAIC, Xuanyuan Academy, Germany's IAA, New Energy Vehicle Congress, Gang, Thomson Locations: Bavarian, Munich, Germany, Europe, Xpeng, China, U.S, Britain, France

☆ China's Xpeng says German carmakers ready to tackle crisis in EV race
▼ + stars: | 2023-09-06 | by ( ) www.reuters.com time to read: +4 min

Globally, China leads EV sales, the latest data from tech industry researcher Counterpoint shows. The U.S. has the fastest growing EV sales with Germany in third place. Chinese companies including Xpeng, BYD and Leapmotor (9863.HK) are seeking the higher margins and faster growth overseas markets can offer, which means they are challenging European companies on their home turf with cheaper models. "The Chinese companies are flooding into overseas markets like mushrooms, deepening their sense of crisis," Gu said. German Chancellor Olaf Scholz said EV competition from abroad should be a spur, not a worry for German carmakers.

Persons: Olaf Scholz, Hildegard Mueller, Markus Soeder, Angelika Warmuth, Xpeng, China's carmakers, Brian Gu, Gu, Mueller, ” Gu, “, ”, Jia Jianxu, Zheng, Zhang Yan, Victoria Waldersee, Josephine Mason, Elaine Hardcastle Organizations: German Association of, Automotive, REUTERS, Rights, HK, IAA, Automotive Industry, EV, Germany, Reuters, Volkswagen, SAIC, Xuanyuan Academy, Germany's IAA, New Energy Vehicle Congress, Gang, Thomson Locations: Bavarian, Munich, Germany, Europe, China, U.S, Britain, France

☆ Insider Today: Gen Z is out on college
▼ + stars: | 2023-09-05 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +9 min

This post originally appeared in the Insider Today newsletter. In today's big story, we're looking at why college isn't part of the plan for some Gen Zers. Between skyrocketing tuition costs and underwhelming salaries, some Gen Zers are skipping college altogether, writes Charlotte Lytton. A recent survey found that 40% of business leaders think recent Gen Z college grads are unprepared when they enter the workforce. The Insider Today team: Dan DeFrancesco, senior editor and anchor, in New York City.

Persons: Dan DeFrancesco, weren't, Zers, Chelsea Jia Feng, Zers aren't, Charlotte Lytton, It's, Alix Earle, NFTs, TikTok hasn't, Earle, Alix Earle's TikToks, @alixearle, Spencer Platt, Goldman Sachs, we've, David Rosenberg, Rosenberg, Kevin Dietsch, Marc Benioff, they're begrudgingly, Arantza Pena Popo, Corizon, Sen, Elizabeth Warren, James Webb, Stephen King, Holly Gibner, Rice, Naga Siu, Hallam Bullock, Lisa Ryan Organizations: Service, Electric, Wall, Tech, University of Miami, Getty, JPMorgan, Amazon, James, James Webb Telescope, Hubble, NASA, ESA, CSA, Costco, Kirkland Locations: Wall, Silicon, NFTs, Blackstone, Bridgewater, Seoul, New York City, San Diego, London, New York

Following the trade, Jim Cramer's Charitable Trust will own 50 shares of AVGO, increasing its weighting in the portfolio to 1.46% from 0.97%. With shares of Broadcom set to open down about 4% following the semiconductor firm's quarterly results Thursday, we are stepping in to build up our newest position . We also want to expand our Broadcom position before its planned acquisition of cloud-computing firm VMWare closes, likely at the end of October. The deal should provide a nice boost to Broadcom's gross profit margins, while adding a strong stream of recurring revenue. Industry Leader: Broadcom (BRCM)Annual revenue per employee: $605,318Annual profit per employee: $6,559Employees: 7,185Industry Laggard: National Semiconductor (NSM)Annual revenue per employee: $224,877Annual profit per employee: $30,164Employees: 6,500 Photo: Huang jia hui

Persons: Jim Cramer's, TD Cowen, Wells, Jim Cramer, Jim, Huang jia Organizations: Broadcom, AVGO, VMWare, Wall, CNBC, Industry, National Semiconductor Locations: Wells Fargo, –

☆ A fierce naval battle 35 years ago shows how destructive another US showdown with Iran could get
▼ + stars: | 2023-08-14 | by ( Paul Iddon | ) www.businessinsider.com time to read: +9 min

More than 50 IRGCN and Iranian Navy personnel were killed, while the US lost one SeaCobra helicopter and its two crew members. After all, Iran has made significant changes to its naval forces and tactics over the past 35 years, becoming "much more asymmetric," according to Bryan Clark, a senior fellow at the Hudson Institute and expert on naval operations. Iran's naval force now consists of the Islamic Revolutionary Guard Corps Navy, known as the IRGCN, and the regular Iranian Navy, Clark told Insider. The Iranian Navy still primarily consists of frigates and corvettes, which operate outside the Gulf, and is much more like other conventional navies. Iranian Navy warship Sahand in Persian Gulf near the Strait of Hormuz in April 2019.

Persons: Biden, Earnest Will, Chance, Samuel B, Roberts, Bryan Clark, Clark, Nadimi, Abu Musa Island, IRGC, Morteza, Kyle Jia Iran's, weren't, Paul Iddon Organizations: Service, US Navy, US, Iranian Revolutionary Guards, Islamic Revolutionary Guard Corps Navy, US Naval Forces Central Command, Fleet, SS, Iranian Navy, Hudson Institute, Washington Institute for Near East, Iran's Navy, REUTERS, Getty, US Marines, US Marine Corps Locations: Persian, Iran, Wall, Silicon, China, Marshall, Iranian, Gulf, Strait, Hormuz, Tehran, Iraq, SS Bridgeton, Abu Musa, Handout, Persian Gulf, Soviet Union, Lebanon, Bataan

CFOTO | Future Publishing | Getty ImagesHigh-end focus aims to challenge AppleHuawei's strategy has become more refined, as it looks to compete in the premium segment of the smartphone market, rather than across all sectors. "Huawei's smartphones took the second spot in the high-end segment. The company released its Mate X3 foldable this year, and that device, along with the flagship P60, helped the company boost its premium segment share. "It totally makes sense for Huawei to focus on the premium segment. Software pushPart of Huawei's high-end strategy revolves around HarmonyOS, an operating system it says is designed for smartphones and other devices like wearables and TVs.

Persons: Yu, Will Wong, HarmonyOS, Celia, Huawei's, it's, Jia Yongli, Jia Organizations: Huawei, Getty, Apple, IDC, Huawei's, Reuters, CNBC, Software Locations: China

☆ iPhone Photography Awards 2023: Winners unveiled
▼ + stars: | 2023-08-03 | by ( Christy Choi | ) edition.cnn.com time to read: +2 min

CNN —Organizers announced the winners of the 2023 iPhone Photography Awards on Monday. Scott Galloway/iPhone Photography Awards"Palazzo della Civiltà Italiana,"Rome, Italy, by Leon Wang (United States) won 3rd place in Architecture. Sofia Ershova/iPhone Photography Awards"Duet," Zhejiang, China, by Zhang Xiaojun (China) won 3rd place in Children. Zhang Xiaojun/iPhone Photography Awards"Kapkungkap Tadau" Phuket, Thailand by Juan Castaneda (United States) won 2nd place in Series. Juan Castaneda/iPhone Photography Awards"Bi Mo," Zhaojue County, China, by Jian Wang (China) won 2nd place in People.

Persons: Ivan Silva, Heroe, Lionel Messi, Thea Mihu, Ba Jia Jiang, Surong Zhu, Scott Galloway, Leon Wang, Sofia Ershova, Zhang Xiaojun, Juan Castaneda, Jian Wang, Sasa Borozan, Beata Krowicka, Barry Mayes Organizations: CNN — Organizers, Italiana, Diesel Locations: Mexico, Sweden, Hanoi, Vietnam, Germany, Fujian, China, Ohio, USA, United States, Rome, Italy, Architecture, California, Zhejiang, Phuket, Thailand, Zhaojue County, People, Nature, Croatia, Bosnia, Herzegovina, Grande, Argentina, Poland, Travel, Sierra Leone, United Kingdom

☆ Shui vows to revive China as Steel Roses wilt on global stage
▼ + stars: | 2023-08-02 | by ( Michael Church | ) www.reuters.com time to read: +3 min

But coach Shui Qingxia is unlikely to meet the same fate as her predecessor, Jia Xiuquan, who left his post after the Olympic exit. A victory at last year's Women's Asian Cup should be enough to earn the 56-year-old former midfielder a reprieve. But Wang Shuang, the darling of the Steel Roses squad, surprised fans in China by saying her team's elimination in the group phase was "not necessarily a bad thing". "It allows us all to see the gap between us and premier league teams, the teams in the U.S.," the 28-year-old Racing Louisville forward said. Reporting by Michael Church, additional reporting by Martin Quin Pollard in Beijing, Editing by Robert BirselOur Standards: The Thomson Reuters Trust Principles.

Persons: Shui Qingxia, Hannah Mckay ADELAIDE, Sarina Wiegman, England's, Jia Xiuquan, Shui, Wang Shuang, Michael Church, Martin Quin Pollard, Robert Birsel Organizations: Soccer Football, FIFA, England, Hindmarsh, World, Olympic, Asian Games, Olympics, Steel Roses, Racing Louisville, Thomson Locations: New Zealand, China, Adelaide, Australia, Netherlands, United States, India, Denmark, England, Paris, Europe, U.S, Racing, Beijing

For investors looking to weed out climate laggards from portfolios, these are vital questions but existing guidelines on emissions reporting and new rules due to come in for the United States and Europe are unlikely to provide hard answers. The United States is on track to announce similar rules this year and the corporate standard, first launched in 2001 and revised in 2004, is also embedded in other international emissions reporting standards. Nonetheless, many investors scrutinise carbon emissions data to gauge how polluting a company is, how it compares with rivals and how this might affect its bottom line and share price. Another area of investor concern is how companies account for their own energy use, or Scope 2 emissions. The GHGP allows companies to buy green energy to offset their emissions, using contractual instruments such as renewable energy certificates, and reflect this in their reporting.

Persons: Fabrizio Bensch, Vanessa Bingle, David Lubin, Subaru, SCA's Lubin, Laura Kane, Kane, Jimmy Jia, Jia, abrdn, Pedro Faria, Faria, Pankaj Bhatia, Douglas Gillison, Sumanta Sen, Dan Flynn, David Clarke Organizations: REUTERS, Toyota, Shell, Greenhouse, World Business, Sustainable Development, World Resources Institute, Reuters, Alpha Financial Markets Consulting, Analytics, Subaru, North, Voya Investment Management, Voya, EU, Sustainability, IFRS, Oxford Smith School of Enterprise, Reuters Graphics, U.S . Securities, Exchange, Thomson Locations: Berlin, Germany, United States, Europe, Japan, North America, U.S, Britain, British, EU

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