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☆ China’s manufacturing output swings back into expansion in October, private survey finds
▼ + stars: | 2024-11-01 | by ( Lee Ying Shan | In Ying-Shan-Lee | ) www.cnbc.com time to read: +1 min

Workers assemble at a workshop of an equipment manufacturing enterprise in Yunmenshan Street, Qingzhou city, East China's Shandong province, Aug. 9, 2023. China's factory activity swung back into expansion among smaller manufacturers in October, according to a private survey released on Friday. The Caixin/S&P Global manufacturing PMI came in at 50.3 in October, beating the median estimate of 49.7 in a Reuters poll. A PMI reading above 50 indicates expansion in activity, while a reading below that level points to contraction. This private gauge, which focuses on smaller and export-oriented firms, comes after the official PMI data, released Thursday, indicated that manufacturing activity in the country expanded for the first time since April.

Organizations: P Global, PMI Locations: Yunmenshan, Qingzhou city, East China's Shandong

☆ Gwyneth Paltrow's Goop undergoes second round of layoffs in two months
▼ + stars: | 2024-11-01 | by ( Madeline Berg | ) www.businessinsider.com time to read: +4 min

Gwyneth Paltrow's lifestyle brand Goop conducted another round of layoffs, Business Insider learned. AdvertisementGwyneth Paltrow's Goop has conducted its second round of layoffs in as many months, Business Insider has learned. Goop Beauty revenue is up 21% over last year, and G. Label revenue is up 45%, she said. Earlier this year, the company hired consultants from a company called WestView to streamline business, the company told BI. These include in-house clothing brand G. Label, beauty lines Goop Beauty and Good Clean Goop, and delivery-only Goop Kitchen restaurants.

Persons: Gwyneth Paltrow's, —, Gwyneth Paltrow's Goop, Goop, Lauren Johnston, Gwyneth Paltrow, Paltrow, WWD, Felix Capital, you've, I've, It's Organizations: Business, Service, NEA, Lightspeed Venture Partners, Forbes, Netflix Locations: WestView

☆ Google employees pressure costumed execs at all-hands meeting for clarity on cost cuts
▼ + stars: | 2024-11-01 | by ( Jennifer Elias | ) www.cnbc.com time to read: +2 min

Alphabet executives, donning Halloween costumes, faced questions from concerned employees at an all-hands meeting on Wednesday, following comments on the company's earnings call suggesting that more cost cuts are coming. "There is a reality to it," said Brian Ong, vice president of Google recruiting, according to a recording of the meeting reviewed by CNBC. Ashkenazi said one of her key priorities in the new role would be to make more cuts as Google expands its spending on artificial intelligence infrastructure in 2025. Google has been restructuring its workforce to move more quickly in the AI arms race, where it faces increased competition. Within Google, employees have expressed concern that the company is preparing for more layoffs, possibly after the end of the year, according to internal correspondence viewed by CNBC.

Persons: Brian Ong, Ong, Anat Ashkenazi, Ruth Porat, Jeff Dean, Ashkenazi, Reggie Miller, Sundar Pichai, That's Organizations: Google, CNBC, Indiana Pacers, Amazon Locations: Silicon Valley

☆ Higher taxes will make it harder for Britain to build 'the next Nvidia,' tech execs say
▼ + stars: | 2024-11-01 | by ( Ryan Browne | ) www.cnbc.com time to read: +6 min

The lower capital gains tax rate was increased to 18% from 10%, while the higher rate climbed to 24% from 20%. Reeves said the increases will help bring in £2.5 billion ($3.2 billion) of additional capital to the public purses. Still, Reeves said the U.K. would still have the lowest capital gains tax rate of any European G7 economy. watch nowReeves announced that the rate of tax on carried interest, which is charged on capital gains, would rise to 32%, up from 28% currently. She nevertheless urged the government to look seriously at mandating that pension funds diversify their allocation to riskier assets like venture capital — a common ask from VCs to boost the U.K. tech sector.

Persons: Rachel Reeves, Reeves, BADR, Paul Taylor, Taylor, Haakon Overli, Dawn Capital, Overli, Anne Glover, Glover, Clarity, Steve Hare, Sage, Sean Reddington, Reddington Organizations: Labour Party Conference, ACC Liverpool Convention Center, Anadolu, Getty, LONDON, Labour, CGT, National Insurance, Unicorn Council, Nvidia, Dawn, NVIDIA, Amadeus Capital, Wealth, Norway's, Fund Global, Saudi Arabia's Public Investment Fund Locations: Liverpool, British, Britain, VCs

☆ 5 reasons BYD is surging ahead after eclipsing Tesla's quarterly sales for the first time
▼ + stars: | 2024-11-01 | by ( Tom Carter | ) www.businessinsider.com time to read: +5 min

The Chinese EV giant said in its third-quarter earnings on Wednesday it had surpassed Tesla's revenues from EV sales for the first time. Executives have said they want half of BYD's sales to come from abroad in the future. Unlike its rival, Tesla, BYD also offers a selection of hybrid vehicles, which are popular in China. Some 311,000 of the 500,000 passenger vehicles BYD sold in October were hybrids, with hybrid sales rising by 62% year-on-year. JADE GAO/AFP via Getty ImagesBYD has sold nearly two million hybrid vehicles this year.

Persons: BYD, Elon Musk, —, Tesla, Elon, GAO, Dylan Khoo, Stella Li, MotorTrend, Axel Schmidt, David Bailey Organizations: EV, Service, BYD, Getty, Mercedes, BMW, China, ABI Research, University of Birmingham Locations: China, Costfoto, Mexico, Brazil, Americas

☆ How a Trump or Harris presidency could impact the future of AI
▼ + stars: | 2024-10-31 | by ( Alice Tecotzky | ) www.businessinsider.com time to read: +9 min

Business Insider spoke to five experts about what a Trump and Harris presidency would bring for AI. AdvertisementReese worked at the Department of Homeland Security during the final year of the Trump administration. "When I worked under the Trump administration, there was actually quite a bit of activity, they were very active," he said. Whether Trump or Harris wins the White House, Etzioni and Bailey said that having AI experts in the administration is crucial. Among the few upsides Bailey sees to Biden's executive order is the call to have agencies appoint AI directors.

Persons: Trump, Harris, —, Kamala Harris, Donald Trump, Darrell West, John Bailey, Biden, Taylor Swift, Trump hasn't, Joe Biden, overreach, Nicholas Reese, Bailey, Biden's, Megan Shahi, Oren Etzioni, Etzioni, Joe Biden's, Reese, they're, Shahi, — Bailey, Tony West, Uber — Harris Organizations: Big Tech, Service, White, Business, Center for Technology Innovation, Brookings Institute, American Enterprise Institute, New York University, Emerging Technology, Department of Homeland Security, Technology, Center for American Progress, Allen Institute, Republican, Security, China, Trump, National AI Research, Harris Locations: California

☆ Amazon set to report Q3 earnings after the bell
▼ + stars: | 2024-10-31 | by ( Annie Palmer | In Annierpalmer | ) www.cnbc.com time to read: +5 min

Amazon will report results for the third quarter after the bell Thursday. Earnings are growing much faster, due largely to Amazon CEO Andy Jassy's widespread cost-cutting efforts. Amazon is expected to report operating income of $14.7 billion during the quarter, up more than 31% from a year earlier, according to StreetAccount. During the third quarter, Amazon held its annual Prime Day megasale in July. WATCH: What to expect from Meta and Amazon earnings

Persons: Brian Olsavsky, Donald Trump, Olsavsky, Andy, Jassy, Jeff Bezos, Jassy's, Brad Erickson, CNBC's, megasale, Amazon, Oppenheimer, Jason Helfstein, SpaceX's, Helfstein, hasn't Organizations: LSEG, LSEG Revenue, Web, Paris Olympics, Amazon, CNBC, Nasdaq, RBC Capital Markets, Apple, Microsoft, Meta, Adobe Analytics, United Launch Alliance, . Space Force, Olsavsky Locations: U.S

☆ Endeavor is using AI to modernize manufacturing. Check out the 9-slide deck it used to raise a $7 million seed round.
▼ + stars: | 2024-10-31 | by ( Riddhi Kanetkar | ) www.businessinsider.com time to read: +3 min

Endeavor has secured $7 million to modernize manufacturing with AI technology. San Francisco-based Endeavor, launched by 22-year-old Sahitya Senapathy, is developing an AI platform to help modernize manufacturing firms. Endeavor aims to automate many of the manual tasks in the industry, which otherwise consume a lot of time. AdvertisementThe startup uses large language models to automate administrative manufacturing processes, such as purchase orders, invoices, and shipping notices. Check out the 9-slide pitch deck it used to secure the fresh funds.

Persons: —, Senapathy, they're Organizations: Endeavor, BI, Service, San, Business, Craft Ventures, Endeavor's, Heartland Ventures, Web Locations: San Francisco

☆ Inside Realtors' Fight for Control of America's for-Sale Home Listings
▼ + stars: | 2024-10-31 | by ( James Rodriguez | ) www.businessinsider.com time to read: +17 min

Agents might be emboldened to share listings among private networks of in-the-know brokers rather than market them to everyone. And if the goal is a transparent market that prioritizes consumers, the clear-cooperation policy is a flawed tool. Redfin estimated that in the second quarter of 2019, about 1.7% of listings, or some 18,000 homes, were likely pocketed. In a hot market, it's easier for brokers to market a home off the databases and still get it sold. What has changed since the rule went into effect is brokerages' eagerness to control access to home listings.

Persons: Smart, —, they'll, Brian Boero, Goliath, Davids, MLSes, doesn't, weren't, Joe Schmo, Saul Klein, Howard Hanna's, Howard Hanna IV, Robert Reffkin, Mauricio Umansky, Redfin, Glenn Kelman, Kelman, haven't, Victor Lund, There's, Buckle Organizations: MLS, National Association of Realtors, NAR, Coldwell, Network, San Diego, Compass, Service, of Justice

☆ Amazon's CEO is even more bullish on the AI opportunity
▼ + stars: | 2024-10-31 | by ( Eugene Kim | ) www.businessinsider.com time to read: +3 min

Amazon's AI services are rapidly growing, with significant demand for AWS's AI chips. AdvertisementJust when you thought Big Tech executives couldn't get more bullish on AI, Amazon CEO Andy Jassy upped the ante on Thursday. Amazon has launched a number of new AI services in recent years, including Bedrock, an AI development tool, the Rufus shopping agent, and homegrown AI chips called Inferentia and Trainium. Amazon's AI business is "growing three times faster at its stage of evolution than AWS did itself," he added. AdvertisementCustomers are realizing that AI model training and inference "could get costly" and AWS's AI chips can be "very compelling" in terms of its price, the CEO explained.

Persons: Jassy, —, couldn't, Andy Jassy, We've, unravels ChatGPT, Rufus Organizations: Service, Big Tech, Amazon, Services Locations: capex

☆ Comcast tops earnings estimates as Olympics propels the company
▼ + stars: | 2024-10-31 | by ( Lillian Rizzo | ) www.cnbc.com time to read: +4 min

Comcast beat third-quarter earning expectations on Thursday, as the Summer Olympics in Paris boosted NBCUniversal's revenue and Peacock's subscriber count. The company's revenue rose 6.5% to $32.07 billion compared to the same period last year. Overall revenue was boosted by the Summer Olympics in Paris, which NBCUniversal exclusively broadcast in the U.S., and domestic broadband revenue — despite continued slowing customer growth. Revenue for the media segment – mainly comprised of NBCUniversal – was up nearly 37% to $8.23 billion, largely due to the Olympics. The company's film studios, also part of the content and experiences segment, saw revenue increase 12.3% to $2.83 billion compared to the prior year.

Persons: –, Peacock, lockdowns, NBCUniversal Organizations: Comcast, LSEG, Summer, Revenue, CNBC, Paris, Olympics, Cable, Verizon, Program, ACP, Domestic, NBC Sports, NBC Olympics, NBC, Games Locations: Paris, U.S, Peacock

☆ Mark Zuckerberg explains why he's happy to keep spending boatloads on AI
▼ + stars: | 2024-10-31 | by ( Katie Balevic | Erin Snodgrass | ) www.businessinsider.com time to read: +3 min

The company outperformed Q3 expectations with Mark Zuckerberg citing AI progress as a factor. AdvertisementDuring the call, Zuckerberg celebrated the "rapid adoption" of the company's chatbot Meta AI and Llama AI models. Related storiesEmarketer principal analyst Jasmine Enberg said Meta's big AI spending shouldn't spook investors, citing the Q3 revenue numbers. But the company must prove it can continue to cover its AI costs even as they trend upward, she added. Meta's AI approach goes beyond delivering products like Meta AI and Meta Ray-Bans, executives said Wednesday.

Persons: Mark Zuckerberg, Meta, —, Zuckerberg, Jasmine Enberg, Meta Ray, Susan Li Organizations: Service, Meta

I do think that seeing a woman on the ballot will, hopefully, encourage more women to vote, even if they don't vote for Harris. At the time, I thought it was going to be a landslide, like 'We're about to have our first woman president.' I don't think everybody in the U.S. will ever be ready for a woman president, but I don't think everybody in the U.S. was ready for a Black president either. Even if Kamala wins, I don't think everybody in the U.S. is ready for a woman president, just like they weren't ready for a Black president. I think Harris is just bringing a lot of new people into the process who haven't necessarily felt included before.

Persons: Kamala Harris, Hillary Clinton, Harris, Donald Trump, Here's, Sallie Krawcheck, Lauren Simmons, Bushra, Emma Bogdan, Hillary, haven't, It's, that's, Annie Lazan, Clinton, I'm, she's, Bushra Amiwala, they're, We're, Van Dyke, Sess Lee, Nikki Haley, Signe Espinoza, Brianna Doe, Sami Sage, they've, We've, Kamala, She's, Ariel Washington, Nadia Rahman, San Francisco I, Jill Homan, Schwager, Meghan O'Connor, Kansas City , Missouri I've, there's, Trump, That's, Jennifer Ashton, I've, Roe, Wade, what's Organizations: Democratic, Trump, The New York Times, Siena, CNBC, Republicans, Independents, Clinton, Marist College, Skokie School, of Education, Republican, Democrat, Betches Media, U.S, Biden, ABC News Locations: Poughkeepsie , New York, U.S, Franklin Lakes , New Jersey, Skokie, Chicago , Illinois, Israel, Palestine, Overland Park , Kansas, Los Angeles, Conshohocken , Pennsylvania, Phoenix One, New York City, Arlington , Texas, Lincoln , Nebraska, San Francisco, Gaza, American, Pakistani American, St, Louis , Missouri, America, Kansas City , Missouri, Archer Lodge, North Carolina, Trump

☆ Beaten-up Nextracker provides investors a reason to believe. But timing is key here
▼ + stars: | 2024-10-31 | by ( Kevin Stankiewicz | ) www.cnbc.com time to read: +7 min

Nextracker lost around 32% of its value in between its August earnings report and Wednesday's close — a frustrating decline. It's too early to act, given the results of next week's contests could move shares of Nextracker and its peers considerably. "We were pleasantly surprised and gratified that this was the best solar earnings we've seen this quarter," Jim Cramer said Thursday. Nextracker Why we own it: Nextracker makes industry-leading tracking technology, which enables large-scale solar panel installations to follow the sun's movement and increase their power generation. Guidance Nextracker reaffirmed its fiscal 2025 guidance for revenue while upping its outlook for a pair of profitability metrics.

Persons: Nextracker, Jim Cramer, We're, Howard Wenger, Chuck Boynton, Jim Cramer's, Jim, Peter Cade Organizations: NXT, Club, Mizuho Securities, CNBC, Stone Locations: Nextracker

Election officials in pivotal battleground states including Pennsylvania, Michigan and Arizona have all tried – and largely failed – to fact-check Musk in real time. Election officials say they are simply outmatched up against Musk’s followers and the X algorithm. “Election officials, they have a very hard job – their job is to be election officials not to be Tweeters,” said Renée DiResta, an expert in disinformation and an associate research professor at Georgetown University’s McCourt School of Public Policy. Election officials in Pennsylvania are similarly attempting to fact-check Musk’s false claims on X but acknowledge those efforts are unlikely to stymie the spread of election lies. In Georgia, election officials see little point in trying to engage with Musk directly, instead turning to the method they relied on in 2020 to beat back misinformation: Regular press conferences with election officials rebutting the latest election falsehoods.

Persons: CNN — Elon, CNN they’re, “ I’ve, ”, Stephen Richer, “ We’ve, ” Richer, Donald Trump, Joe Biden, –, Jocelyn Benson, ” Benson, Musk, Benson, “, Renée DiResta, Georgetown University’s, DiResta, “ It’s, Nina Jankowicz, I’d, Elon Musk, Jim Jordan’s, they’ve, ” Jankowicz, I’ve, ” Sen, Mark Warner, X, Nick Pickles, Pickles Organizations: CNN, Republican, Trump, Georgetown, Georgetown University’s McCourt School of Public, Musk’s America PAC, American Sunlight, Meta, Republicans, Democrats, Capitol, Virginia Democrat, Global Affairs Locations: Pennsylvania, Michigan, Arizona, Maricopa County, Wolverine, Georgia

☆ Comcast says it's thinking of getting out of the cable TV business
▼ + stars: | 2024-10-31 | by ( Peter Kafka | ) www.businessinsider.com time to read: +4 min

Cable TV networks look like they're in permanent decline. AdvertisementThe future of cable TV channels is not looking good, at all. And basic cable TV networks are bearing the brunt of the collapse. Programming from the cable networks, for instance, is part of the pitch behind its Peacock streamer. question — if Comcast doesn't want these assets contaminating its core business, why would anyone else want to own it?

Persons: —, MSNBC —, WBD, Mike Cavanagh, There's, Craig Moffett, Cavanagh, They're, Brian Roberts Organizations: Cable, Comcast, Warner Bros, Service, CNBC, MSNBC, NBC Universal, NBC, Discovery, Paramount Locations: Bravo, USA

☆ Sam Altman said he 'sometimes' used ChatGPT to answer Reddit AMA questions
▼ + stars: | 2024-10-31 | by ( Erin Snodgrass | ) www.businessinsider.com time to read: +3 min

Sam Altman said OpenAI's next big model is likely not coming this year. The CEO answered user questions during a Reddit Ask Me Anything Thursday — sometimes using ChatGPT to respond, he said. AdvertisementSam Altman used his own AI creation to answer questions during a Reddit "Ask Me Anything" session on Thursday. Altman also said he was using ChatGPT, the company's generative AI chatbot, to "sometimes" answer questions during the AMA. The billionaire offered new timing details on OpenAI's next large AI model, GPT-5, saying its release likely won't come this year.

Persons: Sam Altman, OpenAI's, —, Redditors, Altman, Srinivas Narayanan, Narayanan, Bing, OpenAI execs, Kevin Weil Organizations: Service, AMA

☆ Comcast's potential cable networks separation will test the appetite for media reconfiguration
▼ + stars: | 2024-10-31 | by ( Alex Sherman | In Alex-Sherman | ) www.cnbc.com time to read: +4 min

Comcast is thinking about separating or spinning off NBCUniversal's cable networks. NBCUniversal's cable networks aren't growing anymore. That vision never materialized, in part because the media world's attention shifted from traditional pay TV to streaming, which devalued cable networks. The small media company wants to be the vehicle for a cable network rollup, CNBC reported in 2022. But even if Starz doesn't achieve its vision of a cable network rollup, it's possible a private equity firm may have interest in harvesting a group of cable networks for cash.

Persons: Mike Cavanagh, we'll, John Malone, Malone, Dolan Organizations: Comcast, Syfy, USA Network, MSNBC, CNBC, Lionsgate, Starz, AMC Networks, E Networks, Hearst, Disney, Warner Bros, Discovery, Warner Bros . Discovery, Equity, Apollo Global Management, Paramount Global, Yahoo

☆ OpenAI CEO Sam Altman says new AI model taking a while because 'we can't ship' as quickly as hoped
▼ + stars: | 2024-10-31 | by ( Hayden Field | ) www.cnbc.com time to read: +4 min

"All of these models have gotten quite complex and we can't ship as many things in parallel as we'd like to," Altman wrote during a Reddit AMA. Regarding the next version of DALL-E, Altman wrote that the "next update will be worth the wait" but that there's no "release plan yet." The move also positions OpenAI as more of a competitor to Microsoft, which has invested close to $14 billion in OpenAI. For Altman, Reddit isn't just a communications platform. WATCH: OpenAI takes on Google with ChatGPT search

Persons: Sam Altman, Altman, OpenAI, Sora, Kevin Weil, Srinivas Narayanan, Microsoft's Bing, Narayanan, Bing, Reddit isn't Organizations: Google, CNBC, AVM Vision, ChatGPT, Microsoft Locations: San Francisco , California, OpenAI, ChatGPT

A recent court filing included six decks MrBeast's team made to pitch brands like GM, Ford, and LG. As in most media pitches, MrBeast's team focused on his audience demographics, scale, and splashy content to woo brands. In each deck, MrBeast's team shared metrics like subscriber and follower counts, monthly views, and unique viewers to showcase the scale of his YouTube empire. Advertisement"The Next Generation Is Not Watching TV," the MrBeast team wrote in many of the pitches. Keep reading for more details from MrBeast's pitch deck for General Motors, dated February 2023.

Persons: —, Burger, MrBeast, Jimmy Donaldson, Jeffrey Housenbold, Mario, Donaldson, he'll Organizations: GM, Ford, LG, Service, General Motors, Walmart, Mario Bros, Verizon, Amazon's, Entertainment Locations: CarMax, Hollywood

☆ The Chinese EV loved by Ford's CEO just got a lot faster
▼ + stars: | 2024-10-30 | by ( Tom Carter | ) www.businessinsider.com time to read: +4 min

Ford CEO Jim Farley is a big fan of Xiaomi's SU7 EV — and it just got a major upgrade. The Chinese tech giant unveiled the SU7 Ultra, a high-performance electric car with a max speed of 350km per hour. AdvertisementFord CEO Jim Farley's favorite Chinese EV just got a major upgrade. Speaking on a podcast last week, Ford CEO Farley praised Xiaomi as an "industry juggernaut" and said he was a big fan of the SU7. AdvertisementWestern automakers like Ford are under pressure from Chinese electric car makers, which are expanding rapidly worldwide.

Persons: Jim Farley, —, Jim Farley's, Xiaomi, Farley, Lei Jun, it's, I've, Tesla, Elon Musk Organizations: —, Service, Ford, Citibank Locations: China, presale, Shanghai, Chicago

☆ Former CEOs of American Airlines, LinkedIn, Amex, Xerox, and 13 other companies make the pitch for Kamala Harris
▼ + stars: | 2024-10-30 | by ( Kelsey Vlamis | ) www.businessinsider.com time to read: +3 min

A group of former CEOs published an op-ed Tuesday endorsing Kamala Harris for president. AdvertisementA group of former CEOs who led major US companies — including American Airlines, LinkedIn, Xerox, and American Express — made the case for Kamala Harris in an op-ed one week before Election Day. The 17 business leaders said they were voting for Harris because they thought she'd be better for the economy than former President Donald Trump. AdvertisementOther business leaders have publicly supported Trump, including Blackstone CEO Stephen Schwarzman, who said this week that Trump would be "efficient and effective." Meanwhile, some business leaders have avoided taking a position publicly even if they support one candidate or another in private.

Persons: Kamala Harris, Donald Trump, Elon Musk, —, American Express —, Harris, she'd, Reid Hoffman, Doug Parker, Ken Chenault, Michael Lynton, Trump, Musk, Stephen Schwarzman, Jeffrey Sonnenfeld, they're Organizations: Trump, Elon, Service, American Airlines, LinkedIn, Xerox, American Express, Sony, Blackstone, Yale School of Management, Leadership Institute Locations: Fortune, America, Swatara Township , Pennsylvania

☆ Member Panel: AI for Your Bosses
▼ + stars: | 2024-10-30 | by ( ) www.cnbc.com time to read: 1 min

Nearly two years of extreme AI hype has inflated CEO expectations for how quickly their companies can reap its benefits. How can technology executives manage those expectations while continuing to encourage investments? And how do you convince your bosses that AI is being deployed effectively and safely? Guests: Amrit Jassal, Egnyte Co-Founder & CTO & Matt Olson, Burns & McDonnell CIO

Persons: Amrit Jassal, Egnyte, Matt Olson, Burns Organizations: McDonnell

☆ More than 250,000 Washington Post readers cancel subscriptions in revolt over non-endorsement
▼ + stars: | 2024-10-30 | by ( Liam Reilly | ) edition.cnn.com time to read: +3 min

New York CNN —More than 250,000 Washington Post readers have canceled their subscriptions since the newspaper announced last week it would not make an endorsement in the presidential race, leading to a “huge spike” in cancelations, the Post reported late Tuesday. The number did not take into account any new subscribers the Post may have added since Friday or any subscribers who have since re-subscribed, the paper reported. The Post reported it began seeing a surge in cancelations within hours of the announcement. “I wish we had made the change earlier than we did, in a moment further from the election and the emotions around it,” Bezos wrote. Instead, Bezos framed his decision to end presidential endorsements as one designed to regain the trust of readers.

Persons: Will Lewis, Lewis, Marty Baron, “ craven, Jeff Bezos, Trump, Harris, Bezos, — Bezos, Donald Trump, “, ” Bezos, ” Organizations: New, New York CNN, Washington Post, Post, NPR, CNN, Blue Origin Locations: New York, cancelations, ”, Texas

☆ Betting on the election is the hottest new trend. But can prediction markets keep the momentum going?
▼ + stars: | 2024-10-30 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +7 min

The big storyPresidential betsChris duMond; Chip Somodevilla/Getty Images; Jenny Chang-Rodriguez/BIWe're less than a week from election day, but one group can already claim victory: betting markets. Kalshi's legal victory in October over the CFTC to offer election betting paved the way for the trend. iStock; Rebecca Zisser/BIThe betting market's biggest tests might come after the election. Betting markets have Trump as a heavy favorite, whereas traditional polls indicate a tight race. AdvertisementShould Trump win in a landslide, it could strengthen the case for using betting markets as a key tool for election analysis.

Persons: —, Chris duMond, Chip Somodevilla, Jenny Chang, Rodriguez, Matthew Fox, Donald Trump, Polymarket, iStock, Rebecca Zisser, Nate Silver, Tesla, Zuckerberg, Citadel's, Justin Lubell, Lubell, Steve Schwarzman, Ken Griffin, Trump, Tyler Le, Harris, Sundar Pichai, Elon Musk, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, Milan Sehmbi Organizations: Business, Service, Apple, CFTC, Trump, TikTok, Meta Connect, Meta, Bank of America, Blackstone, Republican, Amazon, AWS, Five Apple Intelligence, Google, The Washington Post, Street, Microsoft, Starbucks Locations: French, New York, London

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