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☆ China, Japan and South Korea Hold Regional Summit Overshadowed by U.S.
▼ + stars: | 2024-05-27 | by ( Choe Sang-Hun | ) www.nytimes.com time to read: +1 min

The leaders of South Korea and Japan on Monday sought to restore economic cooperation with China, their biggest trading partner, after years of souring relations, but their three-way talks were overshadowed by heightened tensions between China and the United States, Seoul and Tokyo’s most important military ally. The trilateral meeting — featuring President Yoon Suk Yeol of South Korea, Prime Minister Fumio Kishida of Japan and Premier Li Qiang, the second-highest official in China — was the first in four and a half years. Talks focused mainly on areas where common ground could more easily be found, such as protecting supply chains, promoting trade and cooperating on the challenges of aging populations and emerging infectious diseases. The leaders tiptoed around thorny regional security issues like Taiwan and North Korea. “The three nations agreed to expand practical cooperation in a way their people can feel its benefits,” Mr. Yoon said during a joint news conference with Mr. Kishida and Mr. Li, announcing 2025 and 2026 as the “years of cultural exchanges” among the three nations.

Persons: Yoon Suk, Fumio Kishida, Li Qiang, China —, Mr, Yoon, Kishida, Li Organizations: North Korea , Mr Locations: South Korea, Japan, China, United States, Seoul, Taiwan, North Korea

☆ Tesla is building a huge battery factory in Shanghai even as US-China trade tensions rise
▼ + stars: | 2024-05-24 | by ( Laura He | ) edition.cnn.com time to read: +4 min

The factory, which was announced in April last year, aims to begin production in the first quarter of 2025. The battery facility will be close to Tesla’s Shanghai Gigafactory, which is the company’s largest plant outside the United States, producing almost one million cars a year. Rising tensionsWhile most Western companies are face rising barriers to doing business in China, things have been smoother for Tesla. “Tesla competes quite well in the market in China with no tariffs and no deferential support. I’m in favor of no tariffs,” Musk said.

Persons: Hong Kong CNN — Tesla, Elon Musk, Tom Zhu, Tesla, Wu Xiaohua, ” Musk, Li Qiang, Li, Joe Biden, Musk, “ Tesla Organizations: Hong Kong CNN, Lingang Group, Tesla, Reuters, “ Locations: Hong Kong, Shanghai, China, United States, Beijing, Washington, Tesla’s Gigafactory, Europe, Paris

☆ Stocks making the biggest moves before the bell: NVDA, LYV, SNOW
▼ + stars: | 2024-05-23 | by ( Alex Harring | ) www.cnbc.com time to read: +4 min

Snowflake posted $829 million in revenue, while analysts polled by LSEG had called for $786 million. Adjusted earnings for the period came in at 14 cents a share, however, missing the consensus estimate by 4 cents. Beauty — The cosmetics maker added 3.4% after easily surpassing consensus forecasts from analysts surveyed by FactSet for the fiscal fourth quarter. posted 53 cents in earnings per share, excluding items, on $321.1 million in revenue, while analysts penciled in just 33 cents on $292.6 million in revenue. On top of that, LiveRamp offered firm revenue guidance for both the current quarter and full year.

Persons: Snowflake, LSEG, NetEase, FactSet, e.l.f, LiveRamp, Cytokinetics, Goldman Sachs, Morgan Stanley, Ed Bred, Lori Koch, Alibaba, GoodRX, —, Jesse Pound, Pia Singh, Yun Li, Tanaya Macheel, Sarah Min, Michelle Fox Organizations: Nvidia, Micro, Taiwan Semiconductor, Bloomberg, Department of Justice, of, News, Corp, JPMorgan, DuPont de Nemours, DuPont, Bloomberg News, Bank of America, RBC, Hasbro —, Hasbro Locations: Southern, of New York, —

☆ Stocks making the biggest moves midday: Peloton, Lam Research, Lowe's, AstraZeneca and more
▼ + stars: | 2024-05-21 | by ( Michelle Fox | ) www.cnbc.com time to read: +4 min

Lowe's — The home improvement stock fell 2.9% despite the company posting a first-quarter earnings and revenue beat. By comparison, analysts surveyed by FactSet had penciled in $1.45 in earnings per share on $1.21 billion in revenue. XPeng — U.S-listed shares jumped nearly 5% after the Chinese EV company topped first-quarter estimates for revenue and said it anticipates a rise in quarterly deliveries. AutoZone reported $4.24 billion in revenue for the quarter, below the $4.29 billion expected by analysts, according to FactSet. Sprout Social — Shares dropped 4% after Sprout Social responded to a Reuters report, citing sources familiar, that said its founders are in talks to take the social media strategy company private.

Persons: Lam, Macy's, Tony Spring, Marvin Ellison, BlackLine, FactSet, Keysight, AutoZone, Li Auto, Li, Yun Li, Jesse Pound, Sarah Min, Alex Harring, Lisa Han, Samantha Subin Organizations: AstraZeneca — U.S, Traffic Safety Administration, Dell Technologies, Citi, Baird, Palo Alto Networks, Keysight, EV, Reuters, Li Auto Locations: billings, —

☆ Stocks making the biggest moves premarket: Macy's, Lowe's, Peloton, Zoom Video and more
▼ + stars: | 2024-05-21 | by ( Brian Evans | ) www.cnbc.com time to read: +3 min

Macy's — The department store operator added about 3% after beating earnings estimates for the first quarter and raising its full-year outlook. AutoZone reported revenue of $4.24 billion while analysts polled by FactSet forecast $4.29 billion. XPeng — Shares gained 5% after the Chinese electric vehicle firm beat first-quarter estimates on the top and bottom line. The company reported revenue of 25.6 billion yuan, a 38.6% decrease from the fourth quarter of 2023. Zoom Video — Shares slipped nearly 3% even after the video conferencing company reported better-than-expected earnings and revenue for the first quarter.

Persons: Macy's, Lowe's, XPeng, Baird, David Koning, billings, Li Auto, Paul Lejuez, Wall, LSEG, — CNBC's Michelle Fox, Sarah Min, Jesse Pound Organizations: FactSet, Palo Alto Networks, —, Technologies, Lam Research, Citi Locations: Keysight

☆ Stocks making the biggest moves midday: Hims & Hers Health, Norwegian Cruise Line, Target and more
▼ + stars: | 2024-05-20 | by ( Sarah Min | ) www.cnbc.com time to read: +3 min

Wix.com — The web development company jumped more than 25% after it posted better-than-expected first-quarter results. Norwegian Cruise Line — The cruise line operator jumped more than 8% after Norwegian Cruise Line lifted its full-year earnings guidance. It also reported better-than-expected first-quarter results. Hasbro — Shares gained 3% after Morgan Stanley called Hasbro a top pick, saying its recent underperformance gives investors a strong entry point. Uranium stocks have recently gained after President Joe Biden signed a bill banning imports of Russian uranium for nuclear fuel.

Persons: Wix.com, Li Auto, Goldman Sachs, Morgan Stanley, Johnson, Elliott, Joe Biden, NuScale, — CNBC's Michelle Fox, Lisa Kailai Han, Alex Harring, Samantha Subin Organizations: Norwegian Cruise, Target, GameStop, Micron Technology, Hasbro —, Hasbro, Bloomberg News, Elliott Management, Nvidia, Microsoft, Dell Technologies Locations: Norwegian, U.S, NextDecade's Rio

☆ Stocks making the biggest moves premarket: Apple, Nvidia, Li Auto and more
▼ + stars: | 2024-05-20 | by ( Samantha Subin | ) www.cnbc.com time to read: +1 min

Apple — Apple shares slipped less than 1% after Reuters reported the technology giant is implementing aggressive discounts on its iPhones in China. Micron Technology — Shares moved 2.3% higher after Morgan Stanley upgraded the semiconductor company to equal weight from underweight. Johnson Controls — Shares rose 5% after Bloomberg News reported Elliott Management has built a more than $1 billion stake in the security and safety company. Teradyne – The semiconductor testing equipment stock rose nearly 3%. Goldman Sachs upgraded Teradyne to a buy rating, citing its recent strong quarter and expectations for a "cyclical recovery" within its system-on-chip design test business.

Persons: Morgan Stanley, Li, Johnson, Elliott, Goldman Sachs, —, Alex Harring, Michelle Fox Organizations: Apple, Reuters, Micron Technology —, Micron, Nvidia, Barclays, Stifel, Li Auto, GameStop, AMC Entertainment, Bloomberg News, Elliott Management Locations: China

☆ Chinese asylum seekers in New York City live in limbo, caught between China and the US
▼ + stars: | 2024-05-15 | by ( Tara John | Yong Xiong | ) edition.cnn.com time to read: +14 min

It was his only day off from working 12-hour shifts at a Chinese restaurant in New York City. Evelio Contreras/CNNAfter arriving in New York, Ye spent a week in a Manhattan shelter. For Chinese asylum seekers like Ye, there is a well-trodden route to residency in the US. … It’s impossible for them to be spies.”But the rhetoric around the rise of undocumented Chinese migrants highlights growing tensions between the US and Chinese governments. He received permanent US residence a year later and has gone on to help Chinese migrants in Flushing.

Persons: Ye Chengxiang, “, ”, Ye, Evelio Contreras, Amy Hsin, Jiang Zhen, Yong Xiong, Xi Jinping, Biden, Mark Green of, Wan Yanhai, …, Jiang, “ It’s, I’m, Melanie Stetson Freeman, ’ Wan, Flushing . Li Jiada, Li Jiada, Jesus, Li Organizations: NY CNN, Central America, CNN, Queens College, Customs and, Embassy, Central, Chinese Ministry of Foreign Affairs, China, Republicans, Republican, House Homeland Security Committee, Communist Party, Christian Science, Customs Enforcement, of, Yorker Locations: Flushing, NY, New York City, China, Communist, Ye, States, Colombia, Darien, South, Central, New York, Manhattan, Flushing’s, Sunset, Mexico, Central America, Queens, Hunan province, Guangdong, Chinatown, , Flushing , New York, San Francisco, Mark Green of Tennessee, Beijing, Flushing ., Flushing , Queens

☆ CNBC Daily Open: Nasdaq at record high; Google boosts AI ambitions
▼ + stars: | 2024-05-15 | by ( Abid Ali | ) www.cnbc.com time to read: +3 min

This report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Meme craze coolsShares of GameStop and AMC rose on Tuesday, extending Monday's gains after "Roaring Kitty" made a reappearance. Shares, however, gave up some of their earlier gains, suggesting enthusiasm for the so-called meme stocks was fading. Powell: Inflation falling slowlyFederal Reserve Chair Jerome Powell said inflation was not slowing as quickly as anticipated, requiring the central bank to maintain its current interest rates for longer.

Persons: Jerome Powell, Powell, Australia's, CNBC's Yun Li Organizations: Google Gemini, CNBC, Nasdaq, Dow Jones, Treasury, GameStop, AMC, Biden, Sony, China's CSI, AMC Entertainment Locations: Brussels, Belgium, China, Amsterdam, Asia, Pacific, Hong Kong, South Korea

☆ CNBC Daily Open: Nasdaq closes at record high; Google launches new AI model
▼ + stars: | 2024-05-15 | by ( Abid Ali | ) www.cnbc.com time to read: +2 min

CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. The Nasdaq rose to a record close, while the Dow Jones Industrial Average added 126 points. Meme craze coolsShares of GameStop and AMC rose on Tuesday, extending Monday's gains after "Roaring Kitty" made a reappearance. Shares, however, gave up some of their earlier gains, suggesting enthusiasm for the so-called meme stocks was fading. Powell: Inflation falling slowlyFederal Reserve Chair Jerome Powell said inflation was not slowing as quickly as anticipated, requiring the central bank to maintain its current interest rates for longer.

Persons: Jerome Powell, Alibaba, Powell, CNBC's Yun Li Organizations: CNBC, Nasdaq, Dow Jones, Treasury, GameStop, AMC, Biden, AMC Entertainment Locations: Hangzhou, New York, China, Amsterdam

☆ Tesla's Chinese rival Nio launches a new brand and car that undercuts the Model Y by $4,000
▼ + stars: | 2024-05-15 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +2 min

In this article 9866-HK Follow your favorite stocks CREATE FREE ACCOUNTChinese electric car company Nio launched its lower-cost brand Onvo on Wednesday, May 15, 2024, in Shanghai, China. CNBC | Evelyn ChengSHANGHAI — Chinese electric car company Nio revealed Wednesday that the first car for its new, lower-priced brand, Onvo, will be about $4,000 cheaper than Tesla's comparable Model Y. Elon Musk's electric SUV has been one of the best-selling pure battery-powered electric cars in China. watch nowFierce competition in China's electric car market has invited new entrants and prompted many companies to cut prices. Smartphone company Xiaomi in late March entered the electric car market with its SU7 sedan to rival Tesla's Model 3 with a price that was also about $4,000 cheaper.

Persons: Nio, Evelyn Cheng SHANGHAI, William Li, Onvo, CNBC's Eunice Yoon, Elon, Xiaomi, BYD, Li, Biden, Tesla Organizations: HK, CNBC, Onvo's, Tesla's, Elon Musk's Locations: Shanghai, China, Europe, .

☆ Shohei Ohtani’s former translator to plead guilty to transferring $17 million from MLB star’s bank account
▼ + stars: | 2024-05-08 | by ( David K. Li | Madeline Morrison | ) www.cnbc.com time to read: +2 min

Shohei Ohtani answers questions and Ippei Mizuhara translates during the Shohei Ohtani-Los Angeles Dodgers press conference at Dodger Stadium in Los Angeles on Dec. 14, 2023. The former translator of Los Angeles Dodgers superstar Shohei Ohtani has agreed to plead guilty to illegally transferring $17 million out of the baseball phenom's account without his knowledge, authorities said Wednesday. Ippei Mizuhara, 39, will plead guilty to single counts of bank fraud and subscribing to a false tax return, according to federal prosecutors in Southern California. "Unable to pay his gambling debts, Mizuhara orchestrated a scheme to deceive and cheat the bank to fraudulently obtain money from" Ohtani's account, according to a statement by prosecutors. Mizuhara used Ohtani's password to get to the player's bank account, without the player's knowledge or permission, prosecutors said.

Persons: Shohei, Shohei Ohtani, Ippei Mizuhara, Martin Estrada, Mizuhara, —, Ohtani Organizations: Los Angeles Dodgers, Dodger, Los Angeles Angels Locations: Los Angeles, Southern California

☆ When Buying a Home Is Treated as a National Security Threat
▼ + stars: | 2024-05-06 | by ( Amy Qin | Patricia Mazzei | ) www.nytimes.com time to read: +1 min

After years of living in dorms and subpar apartments, Lisa Li could not wait to close on her new home. The one-bedroom condo in Miami’s financial district had a view of the river, was in a safe neighborhood and, Ms. Li heard, had neighbors who were much like her — less party, more chill. So Ms. Li, a 28-year-old who came to the United States 11 years ago as a college student from China, put in an offer, had her bid accepted and began ordering furniture. At the last minute, the title company raised concerns about a small United States Coast Guard outpost near South Beach a few miles away. Under the law, Ms. Li could face prison time, and the sellers and real estate agents could be held liable.

Persons: Lisa Li, Li Organizations: United States Coast Guard Locations: United States, China, South Beach, Florida

☆ Stocks making the biggest premarket moves: Berkshire Hathaway, Paramount, Spirit Air, Victoria's Secret and more
▼ + stars: | 2024-05-06 | by ( Alex Harring | ) www.cnbc.com time to read: +3 min

Paramount — Shares popped 2.4% following a report that the owner of Paramount Pictures and CBS Entertainment Group began formal acquisition negotiations with a group led by Sony Pictures Entertainment and Apollo. Morgan Stanley downgraded Victoria's Secret to underweight and cut its price target, citing expectations for negative EPS revisions and a tough second half for specialty retail. EHang Holdings — The autonomous aircraft stock advanced 3.2% on the heels of a bullish initiation of research coverage from Morgan Stanley. United States Steel — Shares of the Pittsburgh-based steelmaker rose more than 2% after Morgan Stanley upgraded it to overweight from equal weight. U.S. Steel shares have room to rise thanks to internal improvements, even if the Nippon Steel buyout deal collapses, Morgan Stanley said in a note.

Persons: Warren Buffett, Li, Tyson, Howard Shultz, Morgan Stanley, Coinbase, Bausch, Johnson, —, Sarah Min, Tanaya Macheel, Jesse Pound, Michelle Fox, Samantha Subin Organizations: Berkshire Hathaway, Paramount, Paramount Pictures, CBS Entertainment Group, Sony Pictures Entertainment, Spirit Airlines, Li Auto, StreetAccount, Starbucks, EHang Holdings, United States Steel, . Steel, Nippon Steel, Barclays, UBS Locations: Berkshire, China, Pittsburgh

☆ Stocks making the biggest moves midday: Berkshire Hathaway, Micron, Tyson Foods, Spirit Airlines and more
▼ + stars: | 2024-05-06 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +3 min

Spirit also forecast second-quarter revenue between $1.2 billion and $1.34 billion, below a FactSet estimate of $1.46 billion. Paramount — Shares popped 3.3% following a report that the owner of Paramount Pictures and CBS Entertainment Group began formal acquisition negotiations with a group led by Sony Pictures Entertainment and Apollo . U.S. Steel shares have room to rise due to internal improvements, even if the Nippon Steel buyout deal collapses, Morgan Stanley said in a note. Morgan Stanley said the market is likely overlooking the Canadian-based company's progress on improving core profit margins. Morgan Stanley downgraded the intimate apparel maker to underweight due to expectations for negative earnings per share revisions.

Persons: Baird, Warren Buffett, Morgan Stanley, Tyson, StreetAccount, Bausch, Coinbase, Li Auto, Alex Harring, Jesse Pound, Samantha Subin, Hakyung Kim, Sarah Min, Matthew Staver Organizations: Berkshire Hathaway, Berkshire, Micron Technology, Spirit Airlines, Paramount, Paramount Pictures, CBS Entertainment Group, Sony Pictures Entertainment, United States Steel, . Steel, Nippon Steel, Medical Properties, Health Care, EHang Holdings, Barclays, Micron Technology Inc, Bloomberg, Getty Locations: The Boise , Idaho, Berkshire, Pittsburgh, China, Weibo, Boise , Idaho

☆ Fujian: China’s newest aircraft carrier heads to sea for first time
▼ + stars: | 2024-05-01 | by ( Brad Lendon | ) edition.cnn.com time to read: +5 min

Seoul, South Korea CNN —China’s newest, largest and most-advanced aircraft carrier, the Fujian, took a big step to joining the world’s largest naval fleet on Wednesday as it set out from Shanghai for its first sea trials. “The sea trials will primarily test the reliability and stability of the aircraft carrier’s propulsion and electrical systems,” read an announcement from the state-run Xinhua news agency on Wednesday. The warship was launched in 2022 and has “completed its mooring trials, outfitting work and equipment adjustments” working up to the latest sea trials, Xinhua said. A tugboat tows China's third aircraft carrier, the Fujian, away from a dock in east China's Shanghai on May 1, 2024. The American aircraft carrier USS Gerald R. Ford is seen from the air anchored in Italy in the Gulf of Trieste on September 18, 2023.

Persons: Li Tang, ”, John Bradford, Carl Schuster, Gerald R Ford, ” Bradford, Gerald R, Ford, Andrej Tarfila, Schuster, ” Schuster, Brian Hart, Yuan Huazhi, John F Kennedy, Doris Miller Organizations: South Korea CNN —, Jiangnan Shipyard, Maritime Safety Administration, Xinhua, Liberation Army, United States Navy, PLAN, Foreign Relations International Affairs, US, Pacific Command’s Joint Intelligence, Nimitz, Ford, Center for Strategic, International Studies, Analysts, American, Chinese Defense Ministry, China Power, CSIS, Times, US Navy, Enterprise Locations: Seoul, South Korea, Fujian, Shanghai, East China, Jiangnan, Shandong, Liaoning, Italy, Gulf of Trieste, China

☆ Tesla Reaches Deals in China on Self-Driving Cars
▼ + stars: | 2024-04-29 | by ( Keith Bradsher | ) www.nytimes.com time to read: +1 min

Tesla had faced a couple hurdles to offering the latest level of autonomous driving, which it calls supervised Full Self-Driving. It has needed approval from Chinese regulators, who questioned whether the company took adequate precautions to protect data. The government-linked China Association of Automobile Manufacturers later announced that Tesla and five Chinese automakers had obtained approval from authorities and the association for their data security precautions on dozens of car models. The rules bar automakers in China from using software that would identify the faces of anyone outside their vehicles, and include many other restrictions. Self-driving systems use cameras to guide vehicles.

Persons: Tesla, Elon Musk, Musk, Li Qiang, Xi Jinping, Li Organizations: Sunday, Communist Party, China Association of Automobile Manufacturers Locations: Beijing, China, Shanghai

☆ Elon Musk wins official praise for Tesla during surprise visit to China
▼ + stars: | 2024-04-29 | by ( Laura He | ) edition.cnn.com time to read: +5 min

Autopilot is available in China, but not the full FSD feature, which needs to comply with the country’s data security rules. “The economies of China and the United States are deeply integrated,” he said, according to an official readout of the meeting with the Tesla CEO. “Tesla is willing to further deepen cooperation with China and achieve more win-win results,” Musk told Li. Musk first met Li in 2018, when Tesla signed a deal with the Shanghai government to open a plant there. Since then, Musk has met with Li publicly at least five times, according to state media reports and government statements.

Persons: Hong Kong CNN — Elon Musk, Premier Li Qiang, Tesla, Musk, ”, Dan Ives, that’s, Ives, Antony Blinken, Xi Jinping, Li, China’s BYD, “, ” Musk, Tesla’s, Ren Hongbin, Li Qiang Organizations: Hong Kong CNN, Premier, China Association of Auto Manufacturers, Baidu, Bloomberg, CNN, Beijing Auto, EV, Wedbush Securities, China Council, Promotion of International Trade Locations: China, Hong Kong, Beijing, United States, Shanghai, Weibo

☆ China's Xiaomi is selling more EVs than expected, raising hopes it can break even sooner
▼ + stars: | 2024-04-24 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +2 min

The Xiaomi SU7 on display at the Mobile World Congress 2024. Arjun Kharpal | CNBCBEIJING — Chinese smartphone company Xiaomi 's new electric vehicle is selling better than expected, putting it closer to break-even despite undercutting Tesla 's Model 3 on price. For context, Tesla China sold more than 600,000 cars last year, according to the China Passenger Car Association. Li Auto had a gross margin of 23.5% in the fourth quarter last year, while Nio's gross margin was 7.5%, both up from the year-ago period. Tesla's gross margin has successively declined over the past five quarters to 17.4% in the first three months of this year.

Persons: Arjun Kharpal, undercutting Tesla, Xiaomi, Lei Jun, Li Auto, Nio, Lei Organizations: Mobile, CNBC BEIJING, Citi, China Passenger Car Association, Li, CNBC Locations: Beijing, China

☆ Stocks making the biggest moves before the bell: Tesla, Verizon, Block, Alcoa and more
▼ + stars: | 2024-04-22 | by ( Alex Harring | ) www.cnbc.com time to read: +2 min

Li Auto , Tesla — The electric vehicle makers tumbled more then 7% and 3%, respectively, following announcements of price cuts. Tesla chopped down the sticker price of its Model 3 in China, on top of decreases in other markets Reuters reported . Verizon — The telecommunications giant traded 1.5% higher as earnings per share came in ahead of expectations. Block — Shares added 0.7% after Bank of America reiterated its buy rating on the financial services stock. Hut 8 — Shares gained 2.6% after Benchmark initiated coverage of the data center operator with a buy rating, citing Hut 8's diversified business model and its sizeable bitcoin holdings.

Persons: Li Auto, Tesla, Li, Xpeng, JPMorgan Chase, Morgan Stanley, —, Lisa Kailai Han, Hakyung Kim, Sarah Min Organizations: Tesla, Reuters, Verizon, FactSet, Wall Street, JPMorgan, Marathon, Alcoa, Bank of America Locations: China, New York

☆ Jontay Porter banned from NBA for gambling on games, giving info to bettors, limiting play for betting purposes
▼ + stars: | 2024-04-17 | by ( David K. Li | ) www.cnbc.com time to read: 1 min

Jontay Porter #34 of the Toronto Raptors warms up before the game against the Portland Trail Blazers at the Moda Center on March 09, 2024 in Portland, Oregon. The NBA banned Toronto Raptors forward Jontay Porter for allegedly betting on games, passing on information to gamblers and claiming illness to influence a wager, the league said on Wednesday. The 24-year-old played in 26 games this season, averaging 4.4 points and 3.2 rebounds per contest. This is a developing story. Please check back for updates.

Persons: Jontay Porter, Adam Silver Organizations: Toronto Raptors, Portland Trail Blazers, Moda Center, NBA Locations: Portland , Oregon

☆ If this is a stock market correction, here's how history says it will unfold
▼ + stars: | 2024-04-16 | by ( Yun Li | ) www.cnbc.com time to read: +2 min

The recent retreat in the stock market has made many worried about a deeper correction. Lingering inflation concerns, rising Treasury yields and a shifting outlook for Federal Reserve interest rate policy prompted a market pullback, with the S & P 500 almost 4% off its 52-week high as of Tuesday. A correction is defined as a 10% decline in one of the major U.S. stock indexes, typically the S & P 500 or Dow Jones Industrial Average, from a recent 52-week high close. .SPX 1Y mountain S & P 500 More to go? The heightened geopolitical risk led U.K. investment bank Liberum Capital to call for oil to surge to $100 and a stock market correction as big as 10%.

Persons: Sam Stovall, it's, Stovall, Jonathan Krinsky, Krinsky, Marko Kolanovic Organizations: Federal Reserve, CFRA Research, Dow Jones Locations: U.S

☆ Baidu says its ChatGPT-like Ernie bot exceeds 200 million users
▼ + stars: | 2024-04-16 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +2 min

Men interact with a Baidu AI robot near the company logo at its headquarters in Beijing, China April 23, 2021. Florence Lo | ReutersSHENZHEN — Baidu CEO Robin Li said Tuesday the company's ChatGPT-like Ernie bot has exceeded 200 million users. Li, who is also co-founder and chairman of Baidu, was delivering an opening speech titled "Everyone is a Developer" at Baidu's AI Create conference. Smartphone companies Samsung and Honor have integrated Ernie's AI capabilities with certain mobile devices. Li said in February that Baidu's AI chip reserve "enables us to continue enhancing Ernie for the next one or two years."

Persons: Florence Lo, Robin Li, Ernie, Li, Joe Tsai Organizations: Baidu, Reuters SHENZHEN, Samsung, Norges Bank Investment Management Locations: Beijing, China

☆ Big corporations are quietly taking over your medical practice. Some doctors and experts say it's ruining healthcare.
▼ + stars: | 2024-04-11 | by ( ) www.businessinsider.com time to read: +17 min

UnitedHealth Group struck a deal in March to buy the nine-state doctor group of the struggling hospital system Steward Health Care. AdvertisementDoctors are hot commoditiesIt's tough to lump the many buyers of medical practices together, as they're pursuing different strategies. Insurers like UnitedHealthcare and CVS' Aetna are required by federal law to spend most of the money they collect in premiums on medical care. Plus, running a modern medical practice is expensive, requiring investments in staffing, technology, and electronic health records. Advertisement"The corporate practice of medicine is the reason why healthcare costs are out of control," Li said.

Persons: —, UnitedHealth's Optum, That's, UnitedHealth, there's, They're, Farzad Mostashari, UnitedHealth's chokehold, Chas Roades, Yashaswini Singh, Singh, Roades, Nick Jones, they're, Optum, Jones, Mitch Li, Li, Michelle Cooke, Cooke, she's, Ben Bowman, Bowman Organizations: Service, UnitedHealth, Health Care, CVS Health, Walgreens, Physicians, Research, US Justice Department, CVS, Aetna, Brown University, Harvard Medical School, Oregon Medical Group, JAMA, Amazon, The Washington Post, Federal Trade Commission, US Department of Justice, Department of Health, Human Services, Oregon State, Corvallis Clinic Locations: Oregon, New York, UnitedHealth, Optum, California, The, Atlanta

☆ Americans are expected to spend $3.1 billion on Easter candy this year. These 10 shocking stats reveal the cost of the holiday.
▼ + stars: | 2024-03-30 | by ( Mykenna Maniece | ) www.businessinsider.com time to read: +1 min

Over 1.5 billion Marshmallow Peeps are consumed every Easter holiday. Marshmallow Easter Peeps. In April 2023, BI reported that a consumer group was warning the public about the presence of red dye No. Just Born told BI at the time that they comply with FDA regulations and that their packaging and websites help customers make informed decisions. In October 2023, the Los Angeles Times reported that two colors of Peeps will contain red dye No.

Persons: LI Cook, Shutterstock Organizations: Business, FDA, Los Angeles Times Locations: Bethlehem , Pennsylvania, California

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