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☆ Russia can rely on China for the yuan, but China can't rely on anyone else
▼ + stars: | 2024-10-04 | by ( Huileng Tan | ) www.businessinsider.com time to read: +5 min

Western sanctions have forced Russia to rely on the Chinese yuan for reserves and trade. China's financial system is deeply tied to the greenback, limiting diversification options. These include the entrenched role of the greenback in the global commodities trade and much larger foreign reserves than Russia, wrote Greene, a former senior advisor at the US Treasury. However, many CIPS participants are highly connected to the dollar financial system and potentially subject to the reach of US sanctions. The dollar is still kingIn short, China just can't copy Russia's sanctions-proofing playbook and is likely to continue orbiting around the dollar financial system in the near-term.

Persons: —, China —, Robert Greene, Greene, China's, It's, dollarization, James Lord, Morgan Stanley's, Michael Zezas Organizations: Service, Carnegie Endowment Asia, US Treasury, Patomak Global Partners, Federal Reserve Bank of Boston Locations: Russia, China, Beijing, Russia's, Ukraine

☆ Russia is facing a 'time bomb' at the heart of its economy, economist says
▼ + stars: | 2024-10-04 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +3 min

Russia is breaking down institutions and "borrowing from the future," Konstantin Sonin says. The economist notes Russia is taking measures to exert more control over its economy. But those actions are hurting Moscow's economic future, Sonin said. Konstantin Sonin, a professor at the University of Chicago Harris School of Public Policy, said he foresaw a dark economic future ahead for Russia. Putin's war not only imposes on today's Russians a worse life than they otherwise would have had.

Persons: Konstantin Sonin, Sonin, — Organizations: Service, University of Chicago Harris School of Public, Syndicate, Heineken, International Monetary Fund Locations: Russia, Ukraine, Moscow

☆ What office meltdown? Developers see a shortage of high-end space and are rushing to build it.
▼ + stars: | 2024-10-03 | by ( Daniel Geiger | ) www.businessinsider.com time to read: +12 min

Much of the office market may be mired in a downturn, but demand has been strong for high-end space. New office construction has dropped off sharply, leading to a potential upcoming shortage. That demand has persisted even as office construction has been stifled by higher interest rates and inflation, which have pushed up costs. Worries over the health of the office market have also made lenders reluctant to finance new development. 8 million square feet of that is pre-leased, meaning that there is only about 10 million square feet of upcoming available top quality space.

Persons: —, Hilary Goldfarb, Goldfarb, Crowell, there's, Scott Rechler, Rechler, Vanderbilt, Philippe Visser, CBRE, Visser, Larry Silverstein, Norman Foster, Silverstein, Randolph St, Ross, Stephen Ross, Jordan Rathlev, Rathlev, Jessica Morin, Morin, Banks, RXR, I'm, you'd Organizations: Service, Rockefeller Development, Fifth St, RXR, Skidmore, Owings, Merrill, TF Cornerstone, Grand Central, Citadel, Yards, Companies, Oxford Properties, Hudson, Hudson Yards, KKR, Meta, World Trade Center, American Express, Trade, Related's, Central Locations: Washington ,, Washington, DC, New York, San Francisco, midtown Manhattan, Manhattan, Wells Fargo, BlackRock, Lower Manhattan, Chicago, Fulton, West Palm Beach , Florida, CBRE

☆ Adam Neumann's new startup is reworking WeWork's old business model
▼ + stars: | 2024-10-03 | by ( Grace Eliza Goodwin | Geoff Weiss | ) www.businessinsider.com time to read: +6 min

Workflow has a different business strategy than Neumann's previous company, Bloomberg reports. Neumann told the outlet that investors at Andreessen Horowitz will help keep him disciplined. Ben Bergman/BI"The lack of community and the disconnection that people feel is even more relevant today" than in the days of WeWork, Neumann told Bloomberg of Workflow. Neumann says he's learned his lessonCritics didn't just zero in on WeWork's business model but also on Neumann's management. We're really not sure that we know the answer, therefore we're taking our time," Neumann told Bloomberg.

Persons: Adam Neumann, Neumann, Andreessen Horowitz, —, WeWork, he's, WeWork's, Insider's Ben Bergman, Ben Bergman, Justin Sullivan, Ben Horowitz, Marc Andreessen, Andreessen, Noam Galai, TechCrunch Neumann, We're Organizations: Bloomberg, Service, Fort, Business, Flow, TechCrunch Locations: Fort Lauderdale, Miami, Atlanta, Nashville, Riyadh, Saudi Arabia, WeWork's

☆ OpenAI gets $4 billion revolving credit line, giving it more than $10 billion in liquidity
▼ + stars: | 2024-10-03 | by ( Hayden Field | ) www.cnbc.com time to read: +4 min

OpenAI has a $4 billion revolving line of credit, bringing its total liquidity to more than $10 billion, CNBC has learned. The base credit line is $4 billion, with an option to increase it by an additional $2 billion. Led by Thrive Capital, which planned to invest $1 billion, investors included existing backer Microsoft as well as chipmaker Nvidia. SoftBank, Khosla Ventures, Altimeter Capital, Fidelity Management & Research Company, MGX and Tiger Global also participated, according to sources familiar with the situation. Earlier this year, OpenAI was valued at a reported $80 billion, up from $29 billion in 2023.

Persons: Sam Altman, OpenAI, Goldman Sachs, Morgan Stanley, Mira Murati, Bob McGrew, Barret Zoph, Altman, Bret Taylor, Sam, Taylor Organizations: CNBC, JPMorgan Chase, Citi, UBS, HSBC, Microsoft, Nvidia, SoftBank, Khosla Ventures, Fidelity Management & Research Company, Tiger Global, The New York Times Locations: Santander, Wells Fargo, SMBC

☆ OpenAI's investors include Silicon Valley's most prolific bubble chasers. Is that a bad sign for the company's future?
▼ + stars: | 2024-10-03 | by ( Darius Rafieyan | ) www.businessinsider.com time to read: +4 min

AdvertisementOpenAI has officially closed a historic funding round. AdvertisementTiger Global is also one of the firms that backed OpenAI in this latest funding round. AdvertisementNotably absent from the list of OpenAI investors was Apple, which is said to have dropped out of the deal at the 11th hour. Apple's inclusion in OpenAI's funding round may have gone a long way toward quieting doubts about OpenAI's palace intrigue and general chaotic vibe. A few weeks ago, this funding round was being talked about as the arrival of the adults in the room.

Persons: OpenAI, —, Adam Neuman, Masayoshi Son, Neuman, SoftBank, Morningstar, You'd, Goldman Sachs, Tim Cook, Cook, Elon Musk Organizations: Nvidia, United, United Arab Emirates, Service, SoftBank's, Business, Ark Venture, BI, Apple Locations: United Arab, Silicon, Silicon Valley

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Persons: Cardholders, cardholders, they've, Nordstrom, Wells, You'll, Sephora, it's, Ariana Arghandewal Ariana Arghandewal, Ariana, Guy, Education Ariana, ExperienceExpertiseEducation Read Organizations: Business Insider, U.S . Bank, Card, Bank, Citi, Amazon, Visa, Foods, Chase Travel, American, American Express, U.S, Apple, . Bank, Best, EV, Costco, Bank of America, The Bank of America, Disney, Chase, Hulu, ESPN, Home Depot, Depot, Nordstrom, Nordy Club, Navy, Old Navy, Wells, PayPal, Mastercard, Target, Privileges, JetBlue, Wyndham Rewards, Walgreens, Walgreens Mastercard, Citibank, Business, Bankrate, CNBC, CNN, Forbes, Lonely, NBC, Traveler University, CardCon, Chicago, Expertise, Education, University of Southern Locations: Nordstrom, Banana Republic, Old, Sephora, Target, Ulta, Chevron, University of Southern California

☆ Tesla reversed its sales slowdown, but not enough to calm investors' nerves
▼ + stars: | 2024-10-02 | by ( Graham Rapier | Nora Naughton | ) www.businessinsider.com time to read: +3 min

Tesla reported third-quarter sales on Wednesday. AdvertisementTesla reported third-quarter sales of 462,890 on Wednesday morning, its first quarter-over-quarter gains this year. Analysts had expected 462,000 vehicle deliveries for the period ending September 30. AdvertisementStill, Tesla will have to make monumental increases in the final three months of the year to put 2024's figures ahead of the previous year,Reversing the sales slowdown at Tesla is a much-needed win for Musk's car company. AdvertisementAnd as new vehicle sales fall regardless of powertrain, Musk has touted autonomy as the latest driver of Tesla's growth story and one that investors should pay more attention to than sales.

Persons: Tesla, —, Elon Musk, Dan Ives Organizations: Global EV, Service Locations: Wedbush

☆ Tesla stock slips after EV maker misses estimates on deliveries
▼ + stars: | 2024-10-02 | by ( Lora Kolodny | In Lorakolodny | ) www.cnbc.com time to read: +3 min

In the year-ago period , Tesla reported 435,059 deliveries and production of 430,488 EVs. Last quarter, the company reported 443,956 deliveries, and production of 410,831 vehicles. Deliveries are not defined in Tesla's financial disclosures, but are the closest approximation to units sold reported by the company. Analysts were expecting deliveries of 463,310 in the period ended Sept. 30, according to estimates compiled by FactSet StreetAccount. Tesla posted its third-quarter vehicle production and deliveries report on Wednesday.

Persons: Tesla, Li Auto, FactSet StreetAccount, Ford, Tesla hasn't, Elon Musk, Donald Trump, Musk Organizations: Li, Tesla, EV, Ford, General Motors, GM, Nasdaq, Hyundai Locations: China, Seattle , Washington, US, U.S

☆ Russia's economy faces 'near stagnation' with sanctions whittling down annual GDP growth, European economist says
▼ + stars: | 2024-10-02 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +5 min

Russia's economy is staring at "near stagnation," according to Anders Åslund. That's according to Anders Åslund, a Swedish economist who says Russia's economy is taking a bigger hit from Western sanctions than some believe. "My own view is that the current sanctions regime shaves off 2-3% of GDP each year, condemning Russia to near stagnation. AdvertisementRussia's GDP technically grew 3.6% last year, with another 3.2% real GDP growth expected in 2024, according to estimates from the International Monetary Fund. Consumer prices rose 8.5% year-per-year the week of September 17, according to official figures from Russia's Economic Development Ministry.

Persons: Anders Åslund, —, Putin, Åslund, SWIFT Organizations: Service, Ukraine, Syndicate, International Monetary Fund, Labor, Economic Development Ministry, Soviet Union, Wealth Fund Locations: Swedish, Moscow, Ukraine, Russia, Soviet

☆ Morgan Stanley names China stocks set to benefit from a 'sustained rally'
▼ + stars: | 2024-10-01 | by ( Weizhen Tan | ) www.cnbc.com time to read: +2 min

Morgan Stanley says that Chinese stocks could enjoy a more "sustained rally" in the next phase — beyond a near-term jump — as they ride on the wave of stimulus measures and signals announced last week. They predict at least a 10% rally in the near term , and even more ahead. Against that backdrop, the bank indicated its preference for certain stocks that are set to benefit from easing measures. Stock screens Morgan Stanley did a few stock screens to sieve out those set to benefit. Morgan Stanley says it expected a supplementary budget to be announced in late October, supporting consumption and local government financing.

Persons: Morgan Stanley, Evelyn Cheng Locations: Hong Kong, China

☆ Apollo just set a goal to manage $1.2 trillion in private loans by 2029. These 7 slides show how it will get there.
▼ + stars: | 2024-10-01 | by ( Alex Nicoll | ) www.businessinsider.com time to read: +3 min

AdvertisementThe biggest player in non-bank loans has set a massive new goal for itself: more than doubling its $562 billion private lending business to $1.2 trillion in five years. At $1.2 trillion, Apollo will manage as much in loans as JPMorgan Chase last year, according to data tracker Statista. Apollo plans to more than double both its private credit and equity businesses by 2029, which would bring total assets under management to roughly $1.5 trillion. At its last investor day in 2023, it set a goal to hit $1 trillion in total assets under management, including private loans, by 2026. AdvertisementHere's how Apollo plans to grow to over $1 trillion in private lending alone.

Persons: Marc Rowan, —, Blackstone, Rowan, John Zito, JPMorgan Chase, Jamie Dimon Organizations: Service, KKR, Apollo's AG InBev, InBev, Intel, Apollo, JPMorgan

☆ Tesla set to report Q3 deliveries ahead of robotaxi event
▼ + stars: | 2024-10-01 | by ( Lora Kolodny | In Lorakolodny | ) www.cnbc.com time to read: +5 min

Analysts are expecting Elon Musk's automaker to report about 463,310 deliveries, according to estimates compiled by FactSet StreetAccount. Tesla reported deliveries of 435,059 and production of 430,488 vehicles for the same period a year ago, before it was selling the Cybertruck. More recently, Tesla reported deliveries of 443,956 and production of 410,831 vehicles for the second quarter of 2024. Goldman Sachs last week said it expects Tesla deliveries and production "to come in-line with consensus, largely driven by the strength in the China market." Tesla brand erosionSome customer interest in buying Tesla vehicles has been chilled by the brand's strong association with Musk.

Persons: Elon Musk, Tesla, Elon, FactSet StreetAccount, Wells, Goldman Sachs, tacking, Musk —, —, he's, Donald Trump, Musk, Mike DeWine Organizations: Trump, Tesla's, EVs, Warner Bros, Baidu, SpaceX, Associated Press, CNN, NBC News, The New York Times, Twitter, The Washington Post, Springfield Police Division, Ohio Gov, Pew Research Locations: Manhattan , New York, U.S, China, Los Angeles, Springfield , Ohio

☆ Boomers Are Selling Their Small Businesses; Millennials Are Buying
▼ + stars: | 2024-10-01 | by ( Ann C. Logue | ) www.businessinsider.com time to read: +12 min

Sure, many small businesses aren't glamorous — think dental practices or accounting firms — and they involve long hours and unpredictable market forces. The US Small Business Administration said in July that there were nearly 35 million small businesses in the US. Fewer than two-thirds of small businesses in the US in 2022 were profitable, and over a million businesses of all sizes close each year. Traditionally, small businesses were family businesses, and the eldest male child was expected to take it over when the patriarch was ready to step down. Buying up small businesses allows people without wealthy boomer parents to cash in on the trillions of dollars of wealth the generation is sitting on.

Persons: George Coulam, Coulam, Forrester, Nancy Forster, Holt, Ernst & Young, Steve Holt, Shaw, Tenney, Paul, Helen Reagan, Forster, who's, Jennifer, Neil Gutekunst, Edie Ellis, Ellis, BizBuySell, you've, Dave Specht, Specht, they've, " Forster, She's, PwC, Norm Dinkel, Brian Brogan, — he's, hasn't, it's, Jennifer Gutekunst, boomer Organizations: Texas Renaissance, NewEdge Wealth, Ernst &, Shaw, University of Rhode, US Small Business Administration, Small Business Administration, Drucker School, Family Business, Claremont Graduate University, Wall, American Investment Council, Saint Joseph's University Locations: Texas, America, Sacramento , California, Maine, Orono, Chicago, Washington, Pennsylvania

☆ 3 of China's Tesla rivals had a record month, putting pressure on Elon Musk
▼ + stars: | 2024-10-01 | by ( Tom Carter | ) www.businessinsider.com time to read: +3 min

Chinese Tesla rivals Zeekr, Xpeng, and Li Auto announced record monthly deliveries this week. That puts pressure on Tesla, which is also expected to announce strong numbers on Wednesday. Elon Musk's automaker is facing fierce competition in China, with rivals rolling out their own cheap EVs. Advertisement3 of Tesla's Chinese EV rivals have had a very good month — and they've thrown down a gauntlet for Elon Musk. Chinese EV makers Li Auto, Zeekr, and Xpeng all announced record September deliveries this week, putting pressure on Tesla as it prepares to release its own numbers on Wednesday.

Persons: Zeekr, Elon, —, Elon Musk, Li Auto, Xpeng, Tesla, Li, catchup Organizations: Li Auto, Elon Musk's, Service, EV, Li, Wall Street, London Stock Exchange, Reuters Locations: China

☆ Cybersecurity firm Proofpoint considers pre-IPO funding as it plots a return to public markets
▼ + stars: | 2024-10-01 | by ( Ryan Browne | ) www.cnbc.com time to read: +2 min

Sumit Dhawan, CEO of Proofpoint, took the reins as head of the cybersecurity company in 2022, a year after it was acquired by Thoma Bravo for $12.3 billion. He's been pushing the firm to consider strategic opportunities such as mergers and acquisitions of smaller cybersecurity players to boost the company's market expansion and stimulate industry consolidation. LONDON — Privately-held cybersecurity firm Proofpoint is exploring tapping external investors for pre-IPO financing and the consideration of mergers and acquisitions of smaller cyber companies as it seeks a return to public markets in 2026, CEO Sumit Dhawan told CNBC. Noting that there are curreFntly too many players in the cybersecurity market, Dhawan said that Proofpoint is currently looking for acquisition targets that offer a "strategic fit" for the company — for the right price. "There are at this point in time, 2,000 or so non-profitable cybersecurity companies that are venture-backed, so clearly they'll either get consolidated or potentially not exist.

Persons: Sumit Dhawan, Thoma Bravo, Dhawan, Thoma, Dhawan's, Proofpoint Organizations: Privately, CNBC, Thoma Bravo

☆ Despite Stock Market Hopes, China's Stimulus Plan Won't Fix Economy
▼ + stars: | 2024-09-29 | by ( Linette Lopez | ) www.businessinsider.com time to read: +7 min

Homebuyers can also now put less money down on their purchases — an attempt to breathe life into China's moribund property market. Since the pandemic, China's leader, Xi Jinping, has done little to stop the bleeding in the country's property market or to get China's ailing consumers to start spending money again. Xi's Beijing lacks the will and the power to turn China's economy around. At the heart of its problems is a lack of consumer demand and a property market going through a deep, slow-moving correction. Plus, there's Xi, who seems fairly uninterested in restructuring the property market.

Persons: Gongsheng, Wall, Xi Jinping, China —, Goldman Sachs, —, Sam Altman, Genéralé, Michael Pettis, Xi doesn't, Friedrich Hayek, Xi Organizations: Beijing, People's Bank of China, People's Bank, Shanghai, Chinese Communist Party, Nasdaq, CCP, Peking University, Carnegie Endowment, European Union Locations: China's, China, Beijing, Austrian

☆ Indie movies are having a surprising comeback in a bleak time for Hollywood
▼ + stars: | 2024-09-28 | by ( Lucia Moses | ) www.businessinsider.com time to read: +7 min

AdvertisementDespite all the doom and gloom in Hollywood, there's optimism coming from a surprising place: indie films. "Longlegs" barely promoted its biggest star, Nicolas Cage, and is the year's biggest indie film, grossing over $100 million worldwide. AdvertisementThe case for hope for indie filmsRecently, there's been a spree of pieces predicting the death of indie films. Brands like Procter & Gamble and Neutrogena are taking a bigger role in film financing, too, providing another source of hope for indie films. Indie films can also be a bargain to rent or buy on streaming compared to big studio films.

Persons: Thelma, —, There's, Nicolas Cage, Dennis Quaid, Reagan, Matt Walsh's, Shawn Robbins, Seth, there's, Ampere, Jonathan Glickman, Neutrogena, Michael Messina, Ken Kao, They're Organizations: Service, Magnolia Pictures, Conservative, Blue Harbor Entertainment, Hollywood, Netflix, Ampere, Miramax, Waypoint Entertainment, Partners, Brands, Procter, Gamble, Toronto Film Locations: Hollywood, Seattle, Eastern Europe

☆ China's massive stimulus is missing a key ingredient: a way to revive the nation's consumers
▼ + stars: | 2024-09-28 | by ( Filip De Mott | ) www.businessinsider.com time to read: +6 min

But the past week's stimulus blitz did not offer fiscal support to China's discouraged consumers. AdvertisementChina's latest stimulus blitz offers everything but one key fix: new incentives to revive consumers. While Tuesday's stimulus package didn't address fiscal support, Chinese officials appear to be getting around to it. Even if China commits to bigger fiscal support in the near term, it could be too late to change things this year, Huang said. For instance, Chinese consumers are staying away from new housing projects even as China has introduced looser mortgage rates and downpayment rules.

Persons: —, Liz Young Thomas, Tianlei Huang, Huang Organizations: Service, JPMorgan, Investment, Peterson Institute for International Economics, Reuters, Communist, Barclays, Bank of America Locations: China, Beijing

Lebanese authorities have said that the devices used in the attacks were Gold Apollo Rugged Pager AR-924 pagers and ICOM IC-V82 walkie-talkies. The logo of Taiwanese company Gold Apollo is seen outside its office in New Taipei City on September 18, 2024. Yan Zhao/AFP/Getty ImagesThe chairman and founder of Taiwan-based Gold Apollo, Hsu Ching-kuang, was questioned by Taiwanese prosecutors last Thursday before being released. On its YouTube channel and website, Apollo Systems HK said that it had acquired the “sole distribution rights” to Gold Apollo pager systems. Hsu Ching-kuang (L), head of Taiwanese company Gold Apollo, speaks to the media outside the company's office in New Taipei City on September 18, 2024.

Persons: Budapest CNN — Israel, Yoav Gallant, “, Shin, Israel, Sean Moorhouse, ” Moorhouse, Mohamed Azakir, –, Gold, ICOM, Yan Zhao, Hsu Ching, Hsu, Teresa, Teresa Wu, Wu, Jakub Porzycki, Cristiana, Arcidiacono, ’, DANS, Dimitar Glavchev, Rinson Jose, Jose, Hassan Nasrallah, ” Nasrallah, ”, Hassan Ammar, Volker Türk, Pallabi Munsi, Katie Polglase, Tara John, Eyad Kourdi, Avery Schmitz Organizations: Budapest CNN, Getty, Israel, CNN, British Army, American University of, American University of Beirut Medical Center, Reuters, United Nations, UN Security, UN, International, New York Times, Consulting, Budapest, Gold, Prosecutors, BAC Consulting, Apollo Systems Ltd, Taiwan’s International Trade Administration, Apollo Systems, Apollo Systems HK, YouTube, Apollo, AA, ”, NBC News, Norta Global, Norta, Norwegian Police Security Service, Security, “ Authorities Locations: Beirut, New Taipei City, Budapest, Lebanon, Beirut's, AFP, American University of Beirut, Taiwan, Hungary, Taipei, Taipei City, Hong Kong, United States, Australia, Europe, Bulgaria, Norway, Anadolu, pagers, Sofia, Norwegian, Gaza

☆ A Russian teen got 15 years in prison for donating crypto to a pro-Ukraine paramilitary unit: report
▼ + stars: | 2024-09-27 | by ( Matthew Loh | ) www.businessinsider.com time to read: +3 min

A Russian teen was given 15 years for donating to the Freedom of Russia Legion, local media reported. AdvertisementA Russian 19-year-old was sentenced to 15 years in prison for donating to a pro-Ukrainian paramilitary unit, independent outlet Mediazona reported. Russian daily Kommersant reported at the time that the teen had tried sending the funds via cryptocurrency. Yakovlev isn't the first Russian citizen to be sentenced to over 10 years in prison for donating to pro-Ukraine groups. AdvertisementIn August, 33-year-old amateur ballerina Ksenia Khavana was reported by Russian media to have been sentenced to 12 years in prison for donating $51 to a charity supporting Ukraine.

Persons: Danila Yakovlev, —, Yakovlev, Ksenia Khavana, Vladimir Putin Organizations: of Russia Legion, Service, Kremlin, Kommersant, Russian, Eastern Locations: Siberia, Ukrainian, Biysk, Altai Krai, cryptocurrency, Russia's, Russian, Ukraine

☆ We're trimming this healthcare stock as it hits new highs Friday — here's why
▼ + stars: | 2024-09-27 | by ( Jeff Marks | ) www.cnbc.com time to read: +2 min

We are selling 75 shares of GE Healthcare at roughly $93.86. Following the trade, Jim Cramer's Charitable Trust will own 925 shares of GEHC, decreasing its weighting to 2.5% from 2.72%. After further contemplation since the Morning Meeting , we are trimming our position in GE Healthcare. It's been the second best-performing healthcare stock in the S & P 500 this past month, rallying roughly 11% to put its year-to-date gains at 21%. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio.

Persons: Jim Cramer's, It's, Jim Cramer, Jim Organizations: GE Healthcare, UBS, GE, CNBC, Traders, NYSE Locations: China

☆ Francis Ford Coppola's 'Megalopolis' cost $120 million and took decades to make. Critics say it's a 'spectacular catastrophe.'
▼ + stars: | 2024-09-27 | by ( Jason Guerrasio | ) www.businessinsider.com time to read: +2 min

Francis Ford Coppola's "Megalopolis" opens in theaters Friday after decades in development. The film, set in an imagined New York City, stars Adam Driver, Aubrey Plaza, and Giancarlo Esposito. AdvertisementThe saga of Francis Ford Coppola bringing his epic new movie "Megalopolis" to the big screen is almost as long and winding as the movie itself. Coppola even commissioned a symphony for the movie almost two decades before a single frame of it had been shot. The movie also stars Nathalie Emmanuel, Aubrey Plaza, Shia LaBeouf, Jon Voight, Laurence Fishburne, and Dustin Hoffman.

Persons: Francis Ford Coppola's, Adam Driver, Aubrey Plaza, Giancarlo Esposito, —, Francis Ford Coppola, Robert De Niro, Leonardo DiCaprio, Coppola, Cesar Catilina, Nathalie Emmanuel, Jon Voight, Laurence Fishburne, Dustin Hoffman Organizations: Service, Cannes Film, Lionsgate, Rotten Locations: New York City

☆ The Fed slashed interest rates last week, but Treasury yields are rising. What’s going on?
▼ + stars: | 2024-09-26 | by ( Jeff Cox | Jeff Cox Is A Finance Editor With Cnbc.Com Where He Covers All Aspects Of The Markets | Monitors Coverage Of The Financial Markets | ) www.nbcnews.com time to read: +6 min

The Treasury market, though, hasn’t been paying attention. Officials penciled in another 50 basis points in reductions by the end of the year and another 100 by the end of 2025. That sentiment is evident in the “breakeven” inflation rate, or the difference between standard Treasury and Treasury Inflation Protected Securities yields. The 5-year breakeven rate, for instance, has risen 8 basis points since the Fed meeting and is up 20 basis points since Sept. 11. Taken together, the various dynamics in the Treasury market are making it a difficult time for investors.

Persons: hasn’t, ”, Jonathan Duensing, — haven’t, “, Robert Tipp, We’re, Jerome, Powell, ” Duensing, Tom Garretson, “ They’d, There’s Organizations: Federal Reserve, Treasury, Amundi, Fed, CME, Treasury Inflation, RBC Wealth Management

OpenAI is said to be closing a funding round that could value the company at as much as $150 billion. "Kushner is betting the ranch on OpenAI and Sam Altman just as Masa Son pledged 40% of his Vision Fund on Yahoo and Jerry Yang. "Second, Sam Altman has proven himself to be one of the greatest tech founders of this generation. Sam Altman has said that AI superintelligence could be a reality within "a few thousand days ." "Everybody wants Sam Altman at the helm, and they're willing to do anything to keep him as the CEO.

Persons: OpenAI, —, Sam Altman, ChatGPT, Mira Murati, Bob McGrew, Barret Zoph, Murati's, John Schulman's, Joe Aaron, Aaron, Capital's Josh Kushner, Kushner, Masa Son, Jerry Yang, Jerry Yang wasn't, Jai Das, Goldman Sachs, who's, Altman, they've, Ben Narasin, They're Organizations: Service, Research, Post, Reuters, Nvidia, Apple, Fund, Yahoo, Sapphire Ventures, Venture Locations: Silicon, UAE, OpenAI

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