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Nearly 50,000 people from 200 countries — including, for the first time, the Taliban rulers of Afghanistan — were in Azerbaijan for this year’s United Nations Climate Change Conference, with the goal of reaching a critical deal on climate finance. Participating world leaders Tuesday at the United Nations Climate Change Conference. “It is really disappointing to see that world leaders haven’t shown up in force in solidarity,” she added. While Trump “may put climate action on the back burner,” U.S. climate envoy John Podesta said, “the work to contain climate change is going to continue.”U.S. Energy Secretary Jennifer Granholm said states, cities, nongovernmental organizations and companies are still “all-in” on pursuing climate goals. British Prime Minister Keir Starmer speaks Tuesday on day two of the COP29 climate conference.

Persons: Donald Trump, Alexander Nemenov, General Ban, ”, Ruth Townend, COP29, Joe Biden, Xi Jinping, Keir Starmer, Emmanuel Macron, Olaf Scholz, Justin Trudeau, Shigeru Ishiba, ” Townend, haven’t, Matiul Haq Khalis, Laurent Thomet, Trump, John Podesta, Jennifer Granholm, ” Granholm, Darren Woods, Who, Ilham Aliyev, Carl Court, Getty Images Aliyev, Adel, Lord Adair Turner, Britain, “, James Marape, Marape, Asadullah Jawid Organizations: Change, United Nations, Getty, World Meteorological Organization, House, Pacific, British, Seven, Canadian, Japanese, Environmental Protection Agency, Getty Images, U.S . Energy, Infrastructure Law, NBC, Exxon, Independent, Climate Finance, U.S, Energy, Commission, Union, Baku, American University of Locations: BAKU, Azerbaijan, Afghanistan, United States, Paris, AFP, London, Baku, U.S, ”, Saudi, Adel Al, Saudi Arabia, Saharan Africa, China, Papua New Guinea, American University of Afghanistan

President-elect Donald Trump on Friday nominated Dr. Marty Makary, a pancreatic surgeon at Johns Hopkins University who's made controversial claims about Covid, as commissioner of the Food and Drug Administration. The Agency needs Dr. Marty Makary, a Highly Respected Johns Hopkins Surgical Oncologist and Health Policy Expert, to course-correct and refocus the Agency," Trump said on Truth Social. As FDA commissioner, Makary would be responsible for regulating and overseeing drugs, food, medical devices and other products, such as tobacco and cosmetics. The current FDA commissioner is Dr. Robert Califf, a cardiologist who also held the role during President Barack Obama's second term. Trump had two FDA commissioners during his first term: physician Dr. Scott Gottlieb and oncologist Dr. Stephen Hahn.

Persons: Donald Trump, Marty Makary, Johns Hopkins University who's, Makary, He's, Trump, Robert F, Kennedy Jr, He’s, Noam Galai, Kennedy, Kennedy’s, ” Makary, Dr, Paul Offit, Offit, Robert Califf, Barack Obama's, Scott Gottlieb, oncologist Dr, Stephen Hahn Organizations: Johns Hopkins University, Food and Drug Administration, Johns, World Health, Safety, National Academy of Medicine, National Academies of Science, Engineering, Medicine, Paragon Health Institute, Fox News, FDA, Agency, Johns Hopkins Surgical, Truth, HBO, Street, Biden, Health, Human Services, Children’s Hospital of Philadelphia Locations: Johns Hopkins, New York City, U.S

☆ China's 'ruinous' EV price war cannot last forever, says Volkswagen exec
▼ + stars: | 2024-11-23 | by ( Chris Johnston | Daniel Zwick | ) www.businessinsider.com time to read: +4 min

AdvertisementVolkswagen is committed to China despite a "ruinous" domestic EV price war, its brand chief says. Volkswagen remains firmly committed to China despite a "ruinous" EV price war by domestic rivals that has hit overseas automakers hard, its boss said. VW group sales in China fell by 12% in the first nine months of this year amid the rising popularity of models made by domestic manufacturers. Toyota maintained its top spot in the world for the fourth consecutive year in 2023, selling 11.2 million vehicles globally — about 2 million more than the VW group. "We build cars in China for China; the same is happening in Europe and North America.

Persons: Thomas Schäfer, Schäfer, Axel Springer, Mary Barra, Wang He, Donald Trump's, Trump, Elijah Nouvelage Organizations: Volkswagen, VW, Welt, Business, General, Rival German, BMW, Mercedes, Benz, Audi, Porsche, Labor, Toyota Locations: China, Germany, Europe, Spain, Czech Republic, Portugal, Slovakia, USA, Mexico, Canada, Chattanooga , Tennessee, North America

☆ Bitcoin vs. gold: State Street worries the crypto rally's allure is distracting precious metal investors
▼ + stars: | 2024-11-23 | by ( Krysta Escobar | ) www.cnbc.com time to read: +2 min

The bitcoin rally is generating a false sense of security among investors, according to the strategist behind the so-called granddaddy of gold exchange-traded funds. State Street Global Advisors' George Milling-Stanley warns cryptocurrency plays don't offer the stability of gold. Milling-Stanley's comments came as his firm's SPDR Gold Shares ETF (GLD) celebrated its 20-year anniversary this week. It is the world's largest physically backed gold ETF, and it's up more than 30% in 2024. "But they called it mining because they wanted to seem like gold — maybe take some of the aura away from the gold."

Persons: George Milling, Stanley, cryptocurrency, It's Organizations: Street Global Advisors

☆ The economist who predicted the election outcomes in detail tells BI his forecasts for 2025 GDP, inflation, and the threshold that would explode the deficit
▼ + stars: | 2024-11-23 | by ( Laila Maidan | ) www.businessinsider.com time to read: +4 min

AdvertisementChristophe Barraud predicted a Republican sweep and spike in the 10-year yield. Barraud, a top US economy forecaster, expects GDP growth to exceed consensus forecasts. He also expects higher inflation and shares concerns over the deficit crossing 7.5% of GDP. AdvertisementHe previously said that US GDP growth in 2025 would be stronger than expected at 2.1%, above Bloomberg's consensus forecast of 1.9%. A stronger labor market will cause this, especially wage growth and new job creation, combined with labor shortages from restrictive immigration policy.

Persons: Christophe Barraud, Kamala Harris, Donald Trump, Barraud, I'm, Trump Organizations: Republican, Market Securities Monaco, Bloomberg, Trump, Congressional, Office, Tax Foundation

☆ Biden’s Chief Economist Processes the Election With ‘Confusion, Guilt’
▼ + stars: | 2024-11-23 | by ( Talmon Joseph Smith | ) www.nytimes.com time to read: +1 min

That is a big blow to the idea of “Bidenomics,” of which Mr. Bernstein was a leading evangelist and architect. The U.S. economy recovered from the pandemic with greater strength than any of its peers. Unemployment stayed below 4 percent for the longest stretch since the 1960s, and remains low. Several prominent economists, peers of Mr. Bernstein’s, argue that the administration’s robust fiscal response caused the inflation. And other issues of affordability — especially housing — have sapped the optimism of many households in the last couple of years.

Persons: Jared Bernstein, Donald J, Trump’s, “, Bernstein, Biden’s, Bernstein’s Organizations: White House Council, Economic Advisers Locations: U.S

☆ UN talks in disarray as a draft deal for climate cash is rejected by developing nations
▼ + stars: | 2024-11-23 | by ( Story Associated Press | ) edition.cnn.com time to read: +6 min

Baku, Azerbaijan AP —As nerves frayed and the clock ticked, negotiators from rich and poor nations were huddled in one room Saturday during overtime United Nations climate talks to try to hash out an elusive deal on money for developing countries to curb and adapt to climate change. We need to speak to other developing countries and decide what to do,” Evans Njewa, the chair of the LDC group, said. The rough draft discussed on Saturday was for $300 billion in climate finance, sources told AP. Until we’re tired, until we’re delusional from not eating, from not sleeping.”Activists protested for climate finance grants for poor countries at the United Nations talks. Sean Gallup/Getty ImagesWith developing nations’ ministers and delegation chiefs having to catch flights home, desperation sets in, said Power Shift Africa’s Mohamed Adow.

Persons: ” Evans Njewa, Susana Mohamed, John Podesta, Juan Carlos Monterrey Gomez, ” Gomez, Sean Gallup, Mohamed Adow, ”, Teresa Anderson, Luis Acosta, “ We’re, Eamon Ryan, it’s, ” Ryan, Alden Meyer, ” Jiwoh Emmanuel Abdulai, “, Nabeel Munir, Monterrey Gomez Organizations: Azerbaijan AP, Nations, Alliance of Small, Associated Press, European Union, ”, United Nations, Action, Colombia's, Unit for, Risk Management, Getty Locations: Baku, Azerbaijan, Colombia, United States, Panama, Paris, AFP, Sierra Leone, Pakistan

☆ Horse’s head and pregnant cow used in ‘barbaric’ mafia threat in Sicily
▼ + stars: | 2024-11-23 | by ( Barbie Latza Nadeau | ) edition.cnn.com time to read: +3 min

CNN —The discovery of a severed horse head, and a cow quartered with its bloodied dead calf on top, have rattled a Sicilian town, with authorities treating the incident as a mafia threat. “I can’t comprehend such barbarity,” she told local media outlets. It is a tactic that has been used by the notorious Sicilian Cosa Nostra crime syndicate for decades. Organized crime in Sicily has been a problem since the 19th century when the Cosa Nostra was first identified. In 2023, Matteo Messina Denaro, a Sicilan Cosa Nostra mafia boss who had been on the run for 30 years was captured while seeking cancer treatment in Palermo, underscoring the level of complicity that continues to protect and enable criminal enterprises.

Persons: Mafia Directorate’s, Maurizio de Lucia, “, ”, Angela De Lucia, Paolo Borsellino, Giovanni Falcone, Tony Gentile, Ndrangheta, Matteo Messina Denaro Organizations: CNN, Mafia, Nostra, Cosa Nostra, Reuters Locations: Altofonte, Palermo, Sicily, Sicilian, Cosa

☆ The McRib is returning for the holidays. Why isn’t it sold year-round?
▼ + stars: | 2024-11-23 | by ( Erika Tulfo | ) edition.cnn.com time to read: +6 min

CNN —The McRib is returning to menus this holiday season – but don’t get used to it. Essentially, consumers don’t know when it will show up next — and that element of surprise also drives demand. “It creates this sense of urgency that you have to get it now because you don’t know when it’s coming back. You don’t know if it’s coming back,” Henkes said. It’s so popular that the McDonald’s website listed “Why isn’t the McRib sold year-round?” as a frequently asked question.

Persons: McDonald’s, Nacho Fries, hasn’t, ”, Michael Della Penna, Stephen Zagor, David Henkes, Technomic, it’s, ” Henkes, Henkes, Brian Niccol, Zagor Organizations: CNN, Columbia Business School, Starbucks, Facebook, “ Locations: Kansas City

☆ The cult of the ‘Spoons’: Inside the spartan, cavernous pubs that divide Britain
▼ + stars: | 2024-11-23 | by ( Will Noble | ) edition.cnn.com time to read: +15 min

Wetherspoon pubs are an institution in the UK. More than 800 Wetherspoon chain pubs freckle the country — from The Muckle Cross in Scotland to The Tremenheere in Cornwall. The Moon Under WaterA Wetherspoon pub (now closed) featuring the face of chain founder Tim Martin on its sign. Recalling a well-meaning yet beleaguered teacher from his childhood, Martin renamed the pub “Wetherspoon.” (The “J D” was a nod to J.D. “The thing about Wetherspoons pubs which differentiates them from many is that they have a very wide cross-section of customers.

Persons: London CNN — Utter, ”, George Orwell, ” Orwell, Orwell, Francophile foodies, Oxford marmalade, Biscuits, boozer, cobbling, Tim Martin, Alex Davidson, Wetherspoons don’t, Alexander Graham Bell, Sir John Borlase Warren, Tim Martin’s, Martin —, New Zealand —, “, serendipitously, Martin, Boss ” Hogg, “ The Dukes, Hazzard, George Orwell’s, ” Martin, Mortimer, ‘ ahh, I’ve, George Orwell ’, Stout, Waters, Gareth Fuller, questing, Angus, you’re, Maureen McLean, “ Mate, Wetherspoons ”, ‘, ’ ”, Thomas Frost, Orwell’s, drunks, ” Tim Martin, benedict, tipple —, Ale, Whatever’s, it’s, Boris Johnson, Henry Nicholls, Nigel Farage Organizations: CNN, London CNN, “, Oxford, Stroud, Crosse, Royal Victoria, rowdies, London's, Airport, PAL, YouTube, European Union, Getty Locations: London, Britain, Scotland, Cornwall, “, Yorkshire, England, Swansea, Edinburgh, Nottingham, Muswell Hill, North London, Norwich, New Zealand, Stroud Green, Watford, Ramsgate, City of London, Kent, Scottish, ”, Wetherspoons, Liverpool, Gatwick, South London, AFP, British, Clacton, Poland, Ireland, America

☆ Dining Sheds Changed the N.Y.C. Food Scene. Now Watch Them Disappear.
▼ + stars: | 2024-11-23 | by ( Pete Wells | ) www.nytimes.com time to read: +14 min

Building for the Long HaulBalthazar, SoHo, ManhattanJonah Rosenberg for The New York Times Jonah Rosenberg for The New York Times Jonah Rosenberg for The New York Times Jonah Rosenberg for The New York TimesThe Open Restaurants program was originally scheduled to end after Labor Day in 2020. Street dining at Cebu began in late 2020 with movable barricades separating diners from the traffic. Privacy on a Busy StreetDon Angie, West Village, ManhattanJonah Rosenberg for The New York Times Jonah Rosenberg for The New York Times Jonah Rosenberg for The New York Times Jonah Rosenberg for The New York TimesThe public-health rationale for outdoor dining was that fresh summer breezes could help slow the spread of the coronavirus. Jonah Rosenberg for The New York Times (Balthazar, Don Angie, Oscar Wilde). Marissa Alper for The New York Times (Cebu).

Persons: Lila Barth, Philip Guardione, Piccola Cucina, verdigris, Restaurateurs, Eric Adams, Karsten Moran, Manhattan Jonah Rosenberg, Jonah Rosenberg, Balthazar, cabanas, Ian McPheely, Keith McNally, ”, Erin Wendt, Roberta Delice, Resy, Wendt, “ We’re, Ms, Brooklyn Marissa Alper, Marissa Alper, The New York Times Michael Esposito, Esposito, I’m, Don Angie, Scott Tacinelli, Angie Rito, Rito, “ Scott, ” Mr, Tacinelli, aren’t, Manhattan Lila Barth, Stacy Pisone, Caroline Brennan, Brennan, Eduardo Kobra, Andy Warhol, Jean, Michel Basquiat, Keith Haring, Frida Kahlo, “, Rushmore, ” Ms, Pisone, “ It’s, Ayza, Zafer Sevimcok, Sevimcok, Oscar Wilde, Eden Weingart, Andrew Hinderaker Organizations: The New York Times, verdigris Beaux, City Council, Department of Transportation, New York Times, The New York, Labor, Paisley Design, cabanas, Balthazar Restaurant, American Express, Gardens, Cebu Bar, Cebu, GRT Architects, Herald Locations: SoHo, Mount Etna, New York City, Havana, New York, Rome, Buenos Aires, Dawa’s, Woodside , Queens, Manhattan, Spring, Paris, Eyesores, Gardens Cebu, Bay Ridge, Brooklyn, Cebu, West Village, Chelsea, Boston

☆ 1,200 baby boomers told us what they regret about investing for retirement
▼ + stars: | 2024-11-23 | by ( Noah Sheidlower | ) www.businessinsider.com time to read: +9 min

Millions of Americans facing retirement are worried they won't be financially prepared — or fear that they'll have to work forever. Others said they took Social Security too early or retired without a long-term financial plan. Some older Americans wish they'd had more investing knowledgeA major theme among BI's survey respondents was that they lacked knowledge about investing. She also didn't realize that because she has a pension in addition to receiving Social Security when she retires, she would be affected by a little-known Social Security provision that would lower her monthly check. Between her pension of $713 monthly and Social Security, which she expects will be between $1,200 and $1,400 monthly, she'll have just enough to cover her rent.

Persons: they'd, boomer, Gary Lee Hayes, he'd, Hayes, Charles Schwab, Nancy Seeger, Seeger, she's, I've, Nevenka Vrdoljak, Vrdoljak, PJ White, White, She's, hasn't Organizations: Social Security, Navy, Verizon, Vanguard, Transamerica Institute, Medicare, Bank, America's, Bank of America, Merrill, Bank of America Private Bank Locations: California, Cleveland, San Diego

AdvertisementPresident-elect Donald Trump has started making picks for key cabinet positions and other White House jobs. He started by naming Susie Wiles his chief of staff, making her the first woman to hold the role. Here's a running list of those Trump has tapped for his administration. Now that President-elect Donald Trump has secured another four years in the White House, he's beginning to staff his administration. AdvertisementHere's a running list of Trump's staff picks, who will determine everything from his daily schedule to the ins and outs of finance, defense, and education.

Persons: Donald Trump, Susie Wiles, Here's, Trump, Trump's, Matt Gaetz Organizations: White Locations: Florida

☆ Sara Duterte: Philippine vice president says she would have Marcos assassinated if she is killed
▼ + stars: | 2024-11-23 | by ( Story Reuters | ) edition.cnn.com time to read: +3 min

I said, if I get killed, go kill BBM (Marcos), (first lady) Liza Araneta, and (Speaker) Martin Romualdez. Speaker Romualdez, a cousin of Marcos, has slashed the vice presidential office’s budget by nearly two-thirds. The two families are at odds over foreign policy and former President Rodrigo Duterte’s deadly war on drugs, among others. In the Philippines, the vice president is elected separately from the president and has no official duties. Many vice presidents have pursued social development activities, while some have been appointed to cabinet posts.

Persons: Sara Duterte, Ferdinand Marcos Jr, Marcos ’, Duterte, Marcos, “, BBM, Liza Araneta, Martin Romualdez, ” Duterte, ”, Romualdez, Rodrigo Duterte’s, Benigno Aquino Organizations: Philippines Reuters, Philippine, Presidential Communications, Presidential Security Command Locations: Manila, Philippines, Philippine

☆ Stock for Sale by Cabinet Members
▼ + stars: | 2024-11-23 | by ( Lauren Hirsch | ) www.nytimes.com time to read: +1 min

As President-elect Donald Trump takes an unconventional approach to stocking his cabinet, he’s also embracing one candidate pool that has plenty of precedent: Wall Street chief executives. On Friday, Trump picked Scott Bessent, a top economic adviser and the founder of Key Square Group, a hedge fund, to be his Treasury secretary. He previously tapped Howard Lutnick, the chief executive of the financial services firm Cantor Fitzgerald, for commerce secretary. Executives appointed to government positions are often required to make extensive stock divestitures, so the path from Wall Street to Washington can be particularly complex (while also offering an opportunity to avoid certain taxes). Bessent’s potential departure from Key Square may trigger “key man provisions” that often protect clients of hedge funds if top executives leave.

Persons: Donald Trump, he’s, Trump, Scott Bessent, Howard Lutnick, Cantor Fitzgerald Organizations: Wall Street, Key Square Locations: Washington

☆ Shoppers are ready to open their wallets this holiday season — for the right deals
▼ + stars: | 2024-11-23 | by ( Alex Bitter | ) www.businessinsider.com time to read: +5 min

AdvertisementShoppers are willing to spend this holiday season, but many are still budget-conscious. Shoppers appear ready to spend this holiday season, but many aren't giving up the search for bargains just yet. Multiple signals suggest that some shoppers feel less pinched financially as the biggest shopping season of the year ramps up. As such, many are looking for good deals, as they have been for much of this year, while still spending on the holiday season. Friday's retail sales growth showed "a good early step forward into the holiday shopping season," National Retail Federation Chief Economist Jack Kleinhenz said.

Persons: Claire Tassin, Tassin, Milton, Jack Kleinhenz, Kleinhenz, Doug McMillon, John Rainey, Rick Gomez Organizations: Shoppers, Morning, Retailers, Nordstrom, Bank of America Institute, University of Michigan's, Hurricanes, Retail Federation, Census Bureau, Walmart, Target

☆ Bluesky is growing so fast it's racing to get hold of more servers, its chief operating officer says
▼ + stars: | 2024-11-23 | by ( Jyoti Mann | ) www.businessinsider.com time to read: +4 min

AdvertisementBluesky's user base surged to 21 million, prompting the company to race to get more servers. Its growth follows users leaving X, with over 280,000 closing their accounts on Election Day. Bluesky has "blown past" its user growth projections so much that it's racing to get more servers to keep the site running smoothly, the social media platform's chief operating officer has said. AdvertisementThe social media network has surpassed 21 million users, up from 13 million in October, as X users have left in droves and flocked to the platform. The US election appears to have triggered a migration of X users to Bluesky, which has been praised because of its similarity to the "old Twitter."

Persons: Rose Wang, Bluesky, Wang, Gordon MacMillan, X's, Elon Musk, Donald Trump, Jack Dorsey, Jay Gruber, Dorsey, Musk, Elon Organizations: Twitter, Wired

☆ Who is Pam Bondi, Trump’s attorney general nominee
▼ + stars: | 2024-11-23 | by ( Hannah Rabinowitz | Evan Perez | ) edition.cnn.com time to read: +9 min

She was elected in 2011 to her first political position – Florida attorney general – and was the first woman to hold that office. “Knowing her as a trial attorney and the attorney general,” Colton told CNN, “I feel that she would be very qualified for this job.”Dave Aronberg, a Palm Beach County state attorney who worked for Bondi when she was attorney general in Florida, told CNN that while Bondi will carry out Trump policies loyally, she is likely to treat Justice Department employees fairly. And for Trump’s opponents, Aronberg said not to expect a better pick for attorney general. “Pam Bondi is the best attorney general that Donald Trump is going to nominate,” Aronberg said. Since leaving the Florida attorney general post in 2019, Bondi has worked Ballard Partners, a lobbying firm with deep ties to Trump and his incoming chief of staff Susie Wiles.

Persons: Donald Trump, Pam Bondi, Matt Gaetz, Trump, Bondi, Gaetz, Trump’s, Todd Blanche, ”, Dwight Gooden, –, Nick Cox –, University of South Florida –, ” Cox, “, Bruce Colton, ” Colton, ” Dave Aronberg, ” Aronberg, Aronberg, John Durham, “ Pam Bondi, Barack Obama’s, Joan Biskupic, John Roberts, Obama, Rick Scott, Ballard, Susie Wiles, baselessly, Joe Biden, Hunter Organizations: CNN, Trump, US Justice Department, Republicans, Justice Department, DOJ, Department of Justice, New York Mets, University of South, ”, Bondi, Obamacare, Reuters, Trump University, Ballard Partners, Foreign, Amazon, General Motors, Uber, Republican National Convention, White, Center, Litigation, Trump America, Policy Institute, Trump – Locations: Florida, Bondi, “, University of South Florida, Beach County, Russia, Washington, Qatar, Pennsylvania

☆ How tech bros bought 'America's most pro-crypto Congress ever'
▼ + stars: | 2024-11-23 | by ( Mackenzie Sigalos | ) www.cnbc.com time to read: +12 min

Bernie Moreno, Republican U.S. Senate candidate from Ohio, attends a campaign event in Holland, Ohio, on Saturday, October 26, 2024. In total, crypto-related PACs and other groups tied to the industry reeled in over $245 million, according to Federal Election Commission data. Crypto accounted for nearly half of all corporate dollars that flowed into the election, according to nonprofit watchdog Public Citizen. It was one of the top spending committees of any industry this cycle and exclusively gave to pro-crypto candidates running for Congress. "Welcome to America's most pro-crypto Congress ever," Armstrong wrote on X on Nov. 5.

Persons: Bernie Moreno, Moreno, Sen, Sherrod Brown, Tom Williams, Donald Trump, Coinbase, Crypto, Marc Andreessen, Ben Horowitz, David Sacks, " Moreno, Brian Armstrong, Fred Ehrsam, Faryar Shirzad, Armstrong, Ehrsam, Coinbase's Armstrong, Gary Gensler, Brown, Elizabeth Warren, FTX, Fairshake, gunning, Republican Jim Justice, Democratic Sen, Joe Manchin, Katie Porter, Porter, he'd, Horowitz, Sacks, Coinbase's Shirzad, Moreno wasn't, Shirzad, David McIntosh, McIntosh, hasn't, JD Vance's, Sam Bankman, Gensler, Andreessen Horowitz, Cameron, Tyler Winklevoss, Ripple, Chris Larsen, JD Vance, Paul Grewal, Jesse Powell, Trump, Phil Potter, Multicoin Capital's Kyle Samani, Fred Wilson, Charles Cascarilla, Mike Belshe, Solana, Anatoly Yakovenko, Wences Casares Organizations: Republican U.S, Cq, Inc, Getty, Democratic, Banking Committee, Public Citizen, Crypto, House, Securities and Exchange Commission, SEC, Senate, Committee, Republicans, Protect, Fairshake, Defend, Jobs, Republican, New, CNBC, Andreessen, Craft Ventures, Club for Growth, Growth, Politico, PAC, Labs, Senate Inc, Trump, Union Square Ventures, Xapo Bank Locations: Republican, Ohio, Holland , Ohio, Cleveland, Coinbase, U.S, Arizona, Michigan, West Virginia, California, Washington, FTX, Nashville , Tennessee

☆ Germany's Merkel laments influence of big business on Trump
▼ + stars: | 2024-11-23 | by ( ) www.cnbc.com time to read: +1 min

Former German chancellor Angela Merkel has called the influence of tech billionaires such as Elon Musk over U.S. President-elect Donald Trump a "huge concern". In an interview with the news magazine Der Spiegel published on Friday ahead of the release of her memoir, Merkel said the job of politics was ultimately to balance the interests of ordinary and powerful citizens. "If this ultimate recourse is influenced too strongly by companies, whether through capital power or technological capabilities, then that is an unprecedented challenge for all of us," she said. She cited the example of Musk, chief executive of Tesla and SpaceX, who was tapped by Trump to co-lead a new Department of Government Efficiency that the incoming president has indicated will operate outside the confines of government. "If a person like him [Musk] owns 60% of all satellites orbiting in space, then that has to be a huge concern for us in addition to the political issues," Merkel said.

Persons: Angela Merkel, Elon Musk, Donald Trump, Der Spiegel, Merkel, Musk, Tesla, Trump Organizations: Elon, SpaceX, of Government Efficiency

☆ Trump's pick for Treasury secretary shows there's a limit to Elon Musk's influence
▼ + stars: | 2024-11-23 | by ( John L. Dorman | ) www.businessinsider.com time to read: +3 min

Musk recently said his choice for the influential Treasury secretary role would be Howard Lutnick. As President-elect Donald Trump assembles the key players to drive his new administration's agenda, Elon Musk is rarely far away. Trump tapped hedge fund manager Scott Bessent, the founder and chief executive of Key Square Group, to be his next Treasury secretary on Friday. Bessent, a Wall Street veteran and a top economic advisor to Trump, emerged as a favorite of the president-elect while on the campaign trail this year. The Wall Street Journal reported that Trump sought advice from Wall Street leaders for the Treasury spot, and his advisors told him that analysts would view Bessent as a stabilizing figure.

Persons: Elon, Donald Trump's, Musk, Howard Lutnick, Trump, Scott Bessent, Donald Trump, Elon Musk, Vivek Ramaswamy, Bessent, Cantor Fitzgerald, — Organizations: Mar, UFC, of Government Efficiency, Trump, Key Square, Wall Street, Senate, Street Journal, Treasury, Business Locations: Lago, Florida, New York, Trump's, United States

☆ Data centers powering artificial intelligence could use more electricity than entire cities
▼ + stars: | 2024-11-23 | by ( Spencer Kimball | ) www.cnbc.com time to read: +3 min

The power needs of artificial intelligence and cloud computing are growing so large that individual data center campuses could soon use more electricity than some cities, and even entire U.S. states, according to companies developing the facilities. Now, with the advent of artificial intelligence, data centers are growing so large that finding enough power to drive them and enough suitable land to house them will become increasingly difficult, the developers say. Technology companies are in a "race of a lifetime to global dominance" in artificial intelligence, said Ali Fenn, president of Lancium, a company that secures land and power for data centers in Texas. Beyond VirginiaAs land and power grow more limited, data centers are expanding into new markets outside the long-established global hub in northern Virginia, Sahlstrom said. The privately-held company is working with utilities to secure up to 1.8 gigawatts of power for the site to support as many as 40 individual data centers.

Persons: Ali Fenn, Nat Sahlstrom, Sahlstrom, Phoenix — Organizations: Technology, Phoenix, CNBC, Department of Energy, Bureau Locations: U.S, Pittsburgh, Texas, Denver, Virginia, Maricopa County , Arizona, Storey County , Nevada, Reno, Buckeye , Arizona

President-elect Donald Trump on Friday asked Scott Bessent, a top fundraiser to his campaign, to serve as secretary of the Treasury Department, two sources familiar with the matter confirmed to NBC News. And with Trump proposing aggressive tariffs on imports from countries spanning the globe, the new Treasury Department chief will have to manage relationships with global finance ministers who may choose to retaliate with tariffs of their own. With inflation moderating over the past year, the Powell-led Fed has cut interest rates as part of a bid to stop high borrowing costs from unduly raising unemployment. In Trump’s first term, he tapped banker Steven Mnuchin to lead the Treasury Department. But his tenure at the Treasury Department was more stable than those of other high-level Cabinet posts in Trump’s first term.

Persons: Donald Trump, Scott Bessent, Bessent, Trump, Jerome Powell, “, ” Powell, Powell, Steven Mnuchin, Mnuchin, Trump’s Organizations: Treasury Department, NBC News, Senate, White, Republican, Congress, Federal Reserve, Bloomberg News, Fed, CNBC Locations: Hollywood

☆ Why Republicans think their Senate majority could last the decade: From the Politics Desk
▼ + stars: | 2024-11-22 | by ( The Politics Desk | ) www.nbcnews.com time to read: +9 min

Plus, politics reporters Allan Smith and Vaughn Hillyard examine how Donald Trump's transition team is turning to the much-maligned Project 2025 to fill jobs in the administration. I think it bodes well for us to keep the majority through the rest of the decade,” Daines, of Montana, told NBC News. “They made themselves nuclear,” Howard Lutnick, the co-chair of Trump’s transition and his nominee to serve as commerce secretary, told CNBC in September. But with the campaign over, Trump’s transition team is turning to Project 2025 to help staff the next administration. Both Homan and Ratcliffe were listed as contributors to Project 2025, while Carr wrote a chapter on the FCC.

Persons: Sahil Kapur, Allan Smith, Vaughn Hillyard, Donald Trump's, Steve Daines, “ We’re, ” Daines, Donald Trump, Kamala Harris, Republican Sen, Susan Collins, Democrats haven’t, GOP Sen, Thom Tillis, Trump, Sen, Gary Peters, Jon Ossoff, Ted Budd, Ron Johnson, —, Vaughn Hillyard Donald Trump, “, ” Howard Lutnick, Tom Homan, Brendan Carr, John Ratcliffe, Both Homan, Ratcliffe, Carr, Read, jud, tim, ️, Rea Organizations: NBC, White House, Capitol, Democrats, GOP, National Republican, NBC News, Republicans, Democratic, Republican, CNBC, Trump, Federal Communications Commission, FCC Locations: Montana, West Virginia , Montana and Ohio, Pennsylvania, Florida, Texas, Arizona , Michigan, Nevada, Wisconsin, Maine, North Carolina, Alaska , Iowa , Kentucky , Texas, Michigan, Georgia, Arizona , Georgia

It took Rep. John Curtis, R-Utah, just a few weeks to make his mark on the Senate — even before he'd actually take the oath of office to replace retiring Sen. Mitt Romney next year. But I’m not going to give him an unconditional yes to anything that he wants.”“He is not Mitt Romney and he is not Donald Trump. Former Utah Republican Gov. After deciding to run for Senate after Romney’s retirement announcement, Trump weighed in and endorsed Riverton Mayor Trent Staggs. But his colleagues and Trump allies felt that they understood his perspective, with Curtis’ likely disapproval of Gaetz leading to his quick withdrawal.

Persons: John Curtis, he'd, Sen, Mitt Romney, Donald Trump, Curtis, Matt Gaetz’s, Trump, I’m, He’s, ”, Carlos Curbelo, Romney, ” Curbelo, Jason Chaffetz, Hillary Clinton, Gary Herbert, Herbert, ” Herbert, he’s, Curbelo, Curtis ’, “, John, ‘, ’ ” Curbelo, it’s, didn’t, censuring Trump, It’s, Riverton Mayor Trent Staggs, he’d, you’re, That’s, Gaetz, Curtis didn’t, general’s, ” “ He’s, what’s Organizations: Rep, Justice Department, Republican Party that’s, Trump, GOP, NBC, Republican, “, Brigham Young University, Democratic Party, Congress, Former Utah Republican Gov, NBC News, Commission, Senate, Republicans, GOP House, Capitol, Riverton Mayor, Republican Senate, Ford Locations: Utah, Florida, Salt Lake City, Taiwan, Provo, Washington, Texas, “

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