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☆ Taylor Swift's Eras Tour is set to earn a record-breaking $1 billion in sales—here are the 10 highest-grossing tours
▼ + stars: | 2023-07-04 | by ( Mike Winters | ) www.cnbc.com time to read: +3 min

Exactly how much Swift's tour has earned is unclear, as it hasn't been reporting nightly grosses to Billboard Boxscore, which tracks concert tour data. Last December, Billboard estimated that Swift's tour would gross $590 million based on 52 tour dates. This suggests that over $1 billion in total gross revenue is likely. With the added dates, another estimate has Swift taking in a total of $1.4 billion in gross revenue, according to concert data tracker Pollstar. Based on the survey's findings, total spending on Taylor Swift's tour in 2023 is expected to be around $5 billion.

Persons: Taylor Swift, Elton John's, Elton John —, Ed Sheeran, Roger Waters, Harry Styles —, Taylor, Warren Buffett Organizations: Wall Street, Billboard, Coldplay, Ticketmaster Locations: America, Asia, Australia, Europe

☆ EU, Japan to deepen chip cooperation - Breton
▼ + stars: | 2023-07-03 | by ( Sam Nussey | ) www.reuters.com time to read: +2 min

[1/2] EU Commissioner for Internal Market Thierry Breton speaks during an interview with Reuters in Tokyo, Japan July 3, 2023. REUTERS/Issei KatoTOKYO, July 3 (Reuters) - The European Union (EU) will deepen cooperation with Japan on semiconductors, its industry chief said on Monday, as countries move to strengthen control over a technology vital for defence, electronic and automotive industries. The EU and Japan will work together to monitor the chip supply chain and facilitate exchange of researchers and engineers, Thierry Breton said. "We believe that it's extremely important to secure the supply chain of semiconductors," Thierry Breton told Reuters in Tokyo, where he is discussing cooperation on chips and artificial intelligence with the government and companies. The deepening cooperation between the EU and Japan comes as the bloc has pledged to reduce its dependence on China, which aims to increase its capabilities in high-end technology such as chips.

Persons: Thierry Breton, Issei Kato TOKYO, Rapidus, Breton, Sam Nussey, Chang, Ran Kim, Himani Organizations: Internal, Reuters, REUTERS, European Union, EU, IBM, JSR, Thomson Locations: Tokyo, Japan, EU, Leuven, Belgium, China

☆ CNBC Daily Open: Don't bet against the U.S. economy
▼ + stars: | 2023-06-30 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 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. China's businesses falterChina's factory activity in June shrank for a third consecutive month, according to data from the National Bureau of Statistics. Successful spaceflight, but shares sinkVirgin Galactic successfully completed its first commercial spaceflight yesterday. Despite the smooth mission, Virgin Galactic shares sank more than 10% yesterday and a further 1.9% in extended training.

Persons: Dow, —, Bob Pisani Organizations: CNBC, Commerce, Dow Jones, Federal, Nikkei, National Bureau of Statistics, Virgin Galactic, Italian Air Force, Kodiak Gas Services, Fidelis Insurance Locations: U.S, Asia, Pacific, China, New Mexico

☆ Exclusive: NielsenIQ's GfK deal set for conditional EU antitrust approval
▼ + stars: | 2023-06-28 | by ( Foo Yun Chee | ) www.reuters.com time to read: +1 min

BRUSSELS, June 28 (Reuters) - Advent-owned NielsenIQ is set to secure EU antitrust clearance for its proposed acquisition of German market research firm GfK on the condition GfK sells its consumer panel business, people familiar with the matter said. U.S. consumer market research company NielsenIQ, which is present in more than 90 markets covering more than 90% of the world's population, announced the deal a year ago. GfK's consumer panel business covers 122,500 households and 1,800 retailers, with its data showing patterns, trends and predictions. The European Commission, which is scheduled to complete its preliminary review of the deal by July 4, declined to comment. The list includes French peer Ipsos, the UK's Kantar, YouGov, Dynata, Circana, Omnicon Group, Publicis Group, Cision and private equity firms such as H.I.G.

Persons: Ipsos, Foo Yun Chee, Jan Harvey, Barbara Lewis Organizations: European Commission, EU, Omnicon, Publicis, Equity, Bregal, Oakley, Symphony Technology, Thomson Locations: BRUSSELS, TowerBrook, Equistone

☆ Recession obsession, AI boom and wild markets: What Wall Street can expect for the rest of 2023
▼ + stars: | 2023-06-22 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +9 min

So what does the rest of the year have in store for Wall Street? Unfortunately, Wall Street is unlikely to receive the clarity it seeks anytime soon. Still, economists at the Federal Reserve believe that a recession seems more likely by the end of 2023 than not. AI boom: Wall Street has a lot to worry about, but there’s at least one source of market euphoria: artificial intelligence. Satisfying your sweet tooth is about to get more expensiveIf you have a sweet tooth, take note: Cocoa prices have been soaring — and that could drive chocolate prices higher.

Persons: it’s, Rachel, Ross, Mulder, Scully, Sam, Diane, Vladimir, Estragon, Samuel Beckett’s, ”, Michael Arone, Matthew Bartolini, Darrell Cronk, “, Arif Husain, Rowe Price, Wells, Justin Thomson, Liz Ann Sonders, Charles Schwab, Samantha Delouya, It’s, Danielle Wiener, Bronner, El, Paul Organizations: CNN Business, Bell, New York CNN, Investors, State, Federal Reserve, JPMorgan, Wells, Investment Institute, Silicon Valley Bank, Signature Bank, First, State Street, JPMorgan Chase, ”, “, OceanGate Expeditions, Federal Aviation Administration, Virgin Galactic, SpaceX, Rabobank Locations: New York, Silicon, First Republic, Washington, Europe, Asia, United States, China

☆ OceanGate Expeditions' Titanic tourism is a thing, and it's dangerous
▼ + stars: | 2023-06-21 | by ( Samantha Delouya | ) edition.cnn.com time to read: +9 min

But for those willing to shell out, tourism and research company OceanGate Expeditions offered eight-day missions that allow customers to explore the Titanic more than 13,000 feet below the ocean’s surface using five-seat carbon fiber and titanium underwater vessels. OceanGate launched successful expeditions to the Titanic wreckage in 2021 and 2022. Geoffrey Kent, the founder of luxury travel company Abercrombie & Kent, has recently planned trips for clients including race car driving on ice in Finland and orangutan trekking in Borneo. OceanGate CEO Stockton Rush has also repeatedly claimed that existing submersible regulations needlessly prioritize passenger safety over commercial innovation. But it also hasn’t innovated or grown—because they have all these regulations,” Rush said in an interview that appeared in a June 2019 issue of Smithsonian Magazine.

Persons: –, ”, Nick D’Annunzio, TARA, OceanGate, Stockton Rush, Andrea Doria, Bill Sikes, Rush, Knight Frank, “, Gideon Kimbrell, Everest’s, Richard Branson, Jeff Bezos, Geoffrey Kent, Sal Mercogliano, hasn’t, It’s, ” Rush, David Pogue, don’t, “ Don’t, ” It’s, D’Annunzio, Ann Epting, Epting, Brad Lendon, Parija Kavilanz Organizations: CNN, OceanGate Expeditions, US Coast Guard, Expeditions, Stockton Rush, Rescuers, OceanGate Foundation, Virgin Galactic, Virgin, VSS Unity, Origin, Elon Musk’s SpaceX, Abercrombie, Kent, Campbell University, Smithsonian Magazine, CBS, Federal Aviation Administration, SpaceX, FAA, Kent’s, Abercrombie & Kent Locations: Everett , Washington, Boston, Stockton, Finland, Borneo, North Carolina, Oman

☆ Lab crunch: British science has nowhere to go
▼ + stars: | 2023-06-20 | by ( Kate Holton | ) www.reuters.com time to read: +9 min

Property consultants Bidwells put demand for lab space in Cambridge at 1.19 million square feet (110,000 square metres) - but only 7,000 sq ft are available. That has led to an explosion in venture capital, with much of it coming from the United States. Michael Chen moved to Cambridge from the United States in 2012 to do a doctorate in chemistry. She leads a joint venture between Oxford University and Legal & General (LGEN.L) to build lab space and homes. Pioneer Group, which provides funding and lab space in Britain, said action was needed now to address the "crazy" demand.

Persons: Zoe, Toby Melville OXFORD, Ros Deegan, Catherine Elton, Bidwells, Elton, Deegan, Diarmuid O'Brien, Rishi Sunak's, Gordon Sanghera, Michael Chen, Artem Korolev, Anna Strongman, Strongman, Glenn Crocker, Alistair Cory, Qkine's Elton, Kate Holton, Toby Melville, David Clarke Organizations: University of Oxford, Science, REUTERS, European Union, Therapeutics, McKinsey, Oxford, Cambridge Enterprise, U.S, Oxford Nanopore Technologies, Reuters, Company, Cambridge, PACE, Laboratory, Oxford University, Legal, Thomson Locations: Kidlington, Oxford, Britain, England, Cambridge, United States, London, U.S, France, Boston, North America, Europe, Asia, China

Electric vehicles drove that change. In the first quarter of 2023, Russians purchased more Chinese cars than Lada, the beloved Soviet-era marque. That helps Chinese manufacturers churn out an electric vehicle for around 10,000 euros less than European competitors, according to Grant Thornton. Among the growing list of unwelcoming policies, the European Commission’s trade defence unit is considering ways to stem the tide of Chinese electric vehicle imports, according to Politico. How far China’s carmakers can make inroads further West will be decided by much more than assessments of their competency.

Persons: Bill Russo, Nio, Grant Thornton, Bernstein, Emmanuel Macron, CATL, Una Galani, Thomas Shum Organizations: Reuters, HK, Volkswagen, World Trade Organization, International Energy Agency, Global Times, Beijing, Lada, Chery, Amperex Technology, Politico, Ford Motor, Toyota, Nissan, Twitter, Thomson Locations: HONG KONG, BYD, People’s Republic, Europe, China, Shanghai, Hong Kong, New York, Japan, London ., European, United States, North America, France, Thailand, West

☆ The tightrope CEOs are walking is getting more precarious
▼ + stars: | 2023-06-15 | by ( Josée Rose | ) www.businessinsider.com time to read: +8 min

Practically, it's about so much more — and CEOs these days are being held accountable for more than profits. There's also the notion of social justice — which often sees CEOs encountering criticism when they speak up on culturally sensitive issues, or facing blowback if they stay silent. Brands like Disney, Target , Bud Lite and North Face face consequences for expressing a view, including boycotts, online protests, and threats of violence. It's OK to avoid constantly getting into the fray; instead, pick moments that enforce the company's values. When CEOs do decide to take a public stance, Eber said that their PR teams are there to help.

Persons: Insider's Hasan Chowdhury, aren't, —, There's, George Floyd, Roe, Wade, Karen Eber, Chowdhury, Eber, Richard Hytner, Bud Lite, Insider's Kelsey Vlamis, Bud, influencer Dylan Mulvaney, Heinerscheid, Bud Light's, we're, LIV Golf, Insider's Joe Ciolli, LIV, Jay Monahan, Monahan, I've Organizations: Service, Pride, Saatchi, Saatchi's, CNN, Street, Brands, Disney, Target, Anheuser, Busch InBev, PGA, LIV, Wall Street, PGA Tour Locations: It's, Europe, Middle East, Africa, Saudi, Saudi Arabia

☆ The fertility business is booming as startups go after big profits in a $54 billion market, even as other healthcare companies slump
▼ + stars: | 2023-06-12 | by ( Rebecca Torrence | ) www.businessinsider.com time to read: +8 min

Fertility companies are thriving as the rest of the healthcare industry stumbles. Many healthcare companies have seen their growth stunted by the market downturn, but fertility startups are defying the odds. Alessia Pierdomenico/Reuters Big returnsProgyny's success this year is boosting investor sentiment for private fertility companies, F-Prime Capital partner Carl Byers said. And some fertility companies are trying to stand out further by saying they can lower costs for employers. Experts predicted the fertility industry will see further consolidation this year, including more clinic acquisitions by private equity and by some fertility startups.

Persons: Kindbody, Scott Schoenhaus, Sarah James, Cantor Fitzgerald, PitchBook, Progyny, James, Alessia Pierdomenico, Carl Byers, Byers, Asima Ahmad, Carrot, Cantor Fitzgerald's James, Gina Bartasi, Peter Anevski, he's, Anevski, Rebecca Torrence Organizations: Morning, The Business Research Company, Investors, Reuters, Prime, Clinics, Maven, for Disease Control, Fertility

☆ Meet the typical Singaporean millennial. They live in one of the world's most expensive cities, were raised to chase cars, cash, and condos, and say they feel torn between worlds.
▼ + stars: | 2023-06-07 | by ( Aditi Bharade | ) www.businessinsider.com time to read: +1 min

Derek Chan drives Grab on the side while launching his business. Derek ChanFrom 8 a.m. to 5 p.m., Chan works on launching his new solo venture, a B2B consultancy business. In April, he quit his job at a government-owned research company, which paid 100,000 Singapore dollars, or $74,200, a year. On the other side of Singapore, Adam Azali works as a food-and-beverage associate at Bacha Coffee, a Moroccan coffee brand. He dedicates his free time to performing dance and music shows with other freelance performing artists.

Persons: Derek Chan, Chan, —, Adam Azali, Azali, I'm, hairstyling Organizations: Bacha Locations: Singapore, Moroccan

☆ Millennials Just Keep Voting
▼ + stars: | 2023-06-05 | by ( David Leonhardt | ) www.nytimes.com time to read: +1 min

In the 2018 elections — the midterms of Donald Trump’s presidency — turnout among younger voters surged. Almost twice as many people in their late 20s and early 30s voted that year as had done so in the midterms four years earlier. At the time, it was not clear whether the newfound political engagement of younger adults would last beyond Trump’s presidency. A central theme of the latest report, covering the 2022 midterms, was that “Gen Z and millennial voters had exceptional levels of turnout,” as Catalist’s experts wrote. In the 14 states with heavily contested elections last year, turnout among younger voters rose even higher than it was in 2018.

Persons: Donald Trump’s, Trump’s, Z Organizations: Democratic, Democratic Party

OAKLAND, California, May 31 (Reuters) - Lightmatter, a Boston-based startup using light for AI computing, said on Wednesday it raised $154 million and tripled its valuation as customers in need of faster, more energy efficient computing for AI work are buying its systems. "We use light to link computer chips together and we also use light to do calculations for deep learning," Lightmatter co-founder and CEO Nick Harris said. "The reason that we're getting these customers and data center scale deployments with our interconnect is that the generative AI boom is driving high-end chips like crazy." Light has been used for decades in the telecommunications industry to move data across the world with fiber optic cables. Harris said Envise will be able to run large AI models but will not train them.

Persons: Lightmatter, Nick Harris, Harris, Envise, Jane Lanhee Lee, Lisa Shumaker Organizations: GV, Google Ventures, Inc, Fidelity Management & Research Company, Thomson Locations: OAKLAND, California, Boston

☆ A 'Big Short' investor who called the 2008 housing-market collapse warns about another big threat to home prices
▼ + stars: | 2023-05-30 | by ( Kelsey Neubauer | ) www.businessinsider.com time to read: +2 min

"Big Short" investor Dave Burt said people don't see how the climate crisis will hurt home values. He told CNBC that that mortgage lenders aren't taking into account climate risk, like flooding. He warned that the housing market is in for a 2008-level price correction if the pattern continues. "Ultimately, until people have good information about what these climate-related costs are going to look like, we're creating new problems every day," Burt told CNBC. If this does not change, he warned, the housing market is in for another crash: a 2008-level price correction.

☆ TikTok Shop, a rising threat to Shopee and Lazada in Southeast Asia
▼ + stars: | 2023-05-26 | by ( Sheila Chiang | ) www.cnbc.com time to read: +7 min

CFOTO | Future Publishing | Getty ImagesTikTok Shop is a rising threat to major e-commerce players such as Shopee and Lazada in Southeast Asia. TikTok Shop is the e-commerce marketplace of short video app TikTok, which is owned by Chinese tech giant ByteDance. In 2022, TikTok Shop expanded to six Southeast Asian countries — Singapore, Malaysia, Indonesia, the Philippines, Vietnam and Thailand. TikTok is "focused on the continued development of TikTok Shop in Southeast Asia," said the spokesperson. To incentivize sellers to join the platform, TikTok Shop waived commission fees when it launched in Singapore in August.

Persons: TikTok, Shopee, Shawn Yang, Shop's, Sachin Mittal, Lazada's GMV, Jonathan Woo, Lazada, Shou Zi, Woo, bode Organizations: Blue Lotus Research Institute, Sea Group, DBS Bank, CNBC, Intelligence, Phillip Securities Research, TikTok, U.S, Merchants, SG, Phillip Securities Locations: Southeast Asia, India, Singapore, Malaysia, Indonesia, Philippines, Vietnam, Thailand, Southeast, GMV, U.S, Statista, Brazil, China, U.S ., Montana, Texas, Nomieo

☆ Fast fashion has spawned a mountain of leftover clothes in the Chilean desert that's so massive it can now be seen clearly from space
▼ + stars: | 2023-05-23 | by ( Matthew Loh | ) www.businessinsider.com time to read: +3 min

A gigantic heap of unused clothes in Chile is so big that a satellite can easily spot it. High resolution images of the clothing dump was posted on May 10 by satellite photo app SkyFi. Much of the landfill contains clothes that couldn't sell in stores in the US, Europe, and Asia. Sign up for our newsletter to get the latest on the culture & business of sustainability — delivered weekly to your inbox. At least 39,000 tons of those clothes accumulate in landfills in the Atacama Desert, the outlet found in 2021.

☆ This jet-propelled, self-inflating paddleboard is making a splash
▼ + stars: | 2023-05-22 | by ( Rochelle Beighton | ) edition.cnn.com time to read: +3 min

CNN —In the world of water sports, stand-up paddleboarding (SUP) has been riding a wave of popularity in recent years. In 2016, he founded SipaBoards in Kamnik, Slovenia, and created the world’s first jet-propelled, self-inflating paddleboard. Although electric and self-inflating boards exist separately, Sitar’s design was the first to incorporate both features in one board. It has an easy-to-remove cover so you can access the batteries, recharge the board, and hit the water,” Sitar said. “We want to create a social network for electric water sports, where people can share their experiences, create new paddle routes, and connect with other riders,” Sitar said.

☆ What to know about buying a used electric vehicle as more hit the auto sales market
▼ + stars: | 2023-05-21 | by ( Joe D'Allegro | ) www.cnbc.com time to read: +6 min

Electric vehicle sales keep growing, too. As recently as 2021, total battery-powered electric vehicle sales in the U.S. were under 450,000, but Kelley Blue Book says sales surpassed 800,000 in 2022 and are expected to top one million this year. While the used EV market is still very small, the growth trajectory of EV sales means shopping for a used electric vehicle will become more common and get easier over time, and encompass more make and model choices. In many ways, shopping for a used electric vehicle is the same as looking for any other used car or truck. Electric vehicles lose value faster, but upkeep is lessEVs generally depreciate faster than ICE vehicles, according to Kelley Blue Book.

☆ Who is Sam Altman? The man behind ChatGPT is about to have his moment on Capitol Hill
▼ + stars: | 2023-05-15 | by ( Jennifer Korn | ) edition.cnn.com time to read: +9 min

New York CNN —For a few months in 2017, there were rumors that Sam Altman was planning to run for governor of California. Altman, the CEO and co-founder of OpenAI, the artificial intelligence company behind viral chatbot ChatGPT and image generator Dall-E, is set to testify before Congress on Tuesday. Maybe I’m wrong?’ Thank God someone with so much power has so much humility.”Others want Altman and OpenAI to move more cautiously. OpenAI co-founder & CEO Sam Altman speaks onstage during TechCrunch Disrupt San Francisco 2019 at Moscone Convention Center on October 03, 2019 in San Francisco, California. Similar generative AI technology is quickly finding its way into productivity and search tools used by billions of people.

☆ Microsoft says commercial use of fusion-produced energy will be available within 5 years as part of new deal with Sam Altman-backed Helion
▼ + stars: | 2023-05-11 | by ( Aaron Mcdade | ) www.businessinsider.com time to read: +3 min

Microsoft and fusion energy company Helion announced a first-of-its-kind contract Wednesday. Fusion is the clean energy source of the stars in space, but experts have said it's likely still decades away on Earth. Microsoft and Helion, a research company backed by OpenAI CEO Sam Altman, are teaming up to make fusion-produced energy available commercially much sooner than experts previously estimated. "We are optimistic that fusion energy can be an important technology to help the world transition to clean energy," Smith said in a statement. HelionIn December, the Department of Energy announced what many saw as a breakthrough in the world of fusion energy, when the first nuclear fusion reaction was conducted that created more energy than it used.

☆ US airline passengers are getting increasingly frustrated. Here’s why
▼ + stars: | 2023-05-10 | by ( Francesca Street | ) edition.cnn.com time to read: +4 min

CNN —Air travel has bounced back after its pandemic-induced slump, but that doesn’t mean passengers are feeling good about it. North American travelers are frustrated with high ticket prices, staffing shortages and reduced routes, according to consumer research company J.D. Power’s 2023 North American Airline Satisfaction Study. Unsatisfied passengersDelta Air Lines ranked number one for premium economy passengers, number two for economy passengers and number two for first class and business class travelers. American Airlines

To revive its fortunes, the government late last year published its Edinburgh Reforms agenda comprising over 30 proposed changes to existing rules. "There are a variety of factors that keep somewhere attractive in terms of investment, listing and being an international finance centre." "We want the UK to be the world's most innovative and competitive global financial centre," the spokesperson added. CHALLENGING ASSUMPTIONSSupporters of a more vibrant UK stock market are also increasing pressure on bankers managing IPO processes to challenge assumptions about London's poorer liquidity or post-IPO performance, relative to rival venues. Proposed changes to UK listings are encouraging, but may not be enough, said Steve Bates, BIA CEO.

☆ Bowery: 2023 CNBC Disruptor 50
▼ + stars: | 2023-05-09 | by ( Cnbc.Com Staff | ) www.cnbc.com time to read: +3 min

Founded in 2015 in New York City, Bowery is among several urban plant factories that are changing food supplies, and attracting substantial funding. The need to grow produce more efficiently, and closer to end markets, is represented in Bowery and the concept of vertical agriculture. Early last year, Bowery secured a $150 million credit investment from KKR & Co. Overall, Bowery increased its retail distribution 40% in 2022, with supermarket chains Albertsons, Giant Food, Walmart and Whole Foods on board. Almost a decade on from its founding, the idea behind Bowery remains novel, but skeptics say vertical farming remains closer to a DIY niche than a grown up, globally scalable agtech industry.

☆ Amazon is the 500-pound gorilla in a room full of puppies when it comes to corporate buying of wind and solar power
▼ + stars: | 2023-05-06 | by ( Catherine Clifford | In Catclifford | ) www.cnbc.com time to read: +10 min

In 2022, Amazon bought 10.9 gigawatts of clean power, making it the largest corporate buyer of renewable power in the world, according to data from the market research company BloombergNEF. It's also more than four times the amount of clean energy that the second-largest purchaser of clean power, Facebook parent company Meta , bought in 2022. Since 2019, Amazon has scaled from having one gigawatt of renewable energy to more than 20 gigawatts of publicly announced renewable power. Amazon is focused on building new wind and solar projects, Daitch told CNBC. But that's really more of a bridging solution and not our core strategy, which is around enabling new wind and solar projects," Daitch said.

☆ ChatGPT can pick stocks better than your fund manager
▼ + stars: | 2023-05-05 | by ( Anna Cooban | ) edition.cnn.com time to read: +3 min

London CNN —A basket of stocks selected by ChatGPT, a chatbot powered by artificial intelligence (AI), has far outperformed some of the most popular investment funds in the United Kingdom. It wouldn’t “be long until large numbers of consumers try to use [ChatGPT] for financial gain,” Jon Ostler, Finder’s CEO, said in a statement earlier this week. A typical investment fund pulls together money from multiple investors, and is overseen by a fund manager who decides how to invest that money. A survey of 2,000 UK adults conducted by Finder last week showed that 8% had already used ChatGPT for financial advice, while 19% said they would consider doing so. Nevertheless, “the democratization of AI seems to be something that will disrupt and revolutionize financial industries,” Ostler said.

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