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☆ A financially independent millennial says it's 'an incredible time' to be an investor and explains why he's diversifying his portfolio by purchasing niche websites and watches
▼ + stars: | 2023-11-16 | by ( Kathleen Elkins | ) www.businessinsider.com time to read: +4 min

He's continued to grow his wealth by investing in real estate and co-founding MMG Media Group, which builds, buys, scales, and sells websites. "I don't want to be fully concentrated in index funds and owning websites and having a few real estate properties," he told Insider. Investing in niche websites and watchesSabatier subscribes to one of Warren Buffett's investing philosophies: Be fearful when others are greedy and greedy when others are fearful. "So it's an incredible time to be buying niche websites and optimizing them." He particularly likes buying websites because they're asset-light and relatively affordable.

Persons: Grant Sabatier, He's, Sabatier, Warren Buffett's, everyone's, there's, Pete Davidson, Jack Kerouac's Rolex, Sabatier — Organizations: Business, MMG Media Group, Rolex Locations: American

☆ Human Material Loop is making fabric from human hair
▼ + stars: | 2023-11-15 | by ( Flo Cornall | ) edition.cnn.com time to read: +5 min

Human Material Loop hopes to transform the fashion industry by turning human hair into a textile. According to Human Material Loop, 72 million kilograms of human hair waste end up in European landfills every year, the equivalent in weight of seven Eiffel Towers. Human Material Loop used hair to insulate this jacket. For Kollar, it’s not simply about wearing a jumper made from human hair for the novelty or sustainability aspect; she argues that human hair is an incredibly durable material. Visser says ultimately the implementation of human hair in our products isn’t simple.

Persons: Zsofia Kollar, ”, Kollar, “, ” Kollar, Pablo Betancourt, it’s, Higashi, Sanne Visser, There’s, Visser Organizations: CNN, Eiffel, Southwestern, University of the Arts London, London’s Design Locations: Canada, Aconcagua, Argentina, Netherlands, Belgium, Luxembourg, Micronesia, Kiribati, Southwestern United States, Japan

San Francisco CNN —President Joe Biden hopes to walk away from his closely watched summit with Chinese President Xi Jinping on Wednesday having put the US-China relationship on steadier footing after months of tension between the two superpowers. Biden administration officials have been working ever since to restore the channel, but those efforts were hampered by the tense episode involving a Chinese spy balloon that Biden ordered shot down earlier this year. And American officials have watched carefully as China scales up its military exercises in the water and air around the island. A political tight ropeAs Biden was preparing for Wednesday’s summit, Republicans questioned his decision to seek a meeting with Xi. The deal, which has been a priority for the Biden administration, would target companies that produce and export the source material to make the deadly synthetic opioid.

Persons: Joe Biden, Xi Jinping, Biden, Xi, week’s Biden, Jake Sullivan, Wang Yi, Antony Blinken, Janet Yellen, Gina Raimondo, John Kerry, –, ”, they’d, Nancy Pelosi, ” Sullivan, ” Biden, “ They’ve, Nikki Haley, “, Sullivan Organizations: San Francisco CNN, Foreign, China’s, American, “, China’s Communist Party, Biden, South, Republicans Locations: San, China, East, Europe, Beijing, California, Washington, Bay, Taiwan, Bali, San Francisco, South Carolina, Mexico

☆ Democrats Plan to Spend Millions to Weaken Republican Supermajorities
▼ + stars: | 2023-11-14 | by ( Nick Corasaniti | More About Nick Corasaniti | ) www.nytimes.com time to read: +1 min

Democrats are planning to spend millions of dollars next year on just a few state legislative elections in Kansas, North Carolina, Kentucky and Wisconsin — states where they have little to no chance of winning control of a chamber. Yet what might appear to be an aimless move is decidedly strategic: Democrats are pushing to break up Republican supermajorities in states with Democratic governors, effectively battling to win back the veto pen district by district. Such supermajorities result when a single political party has enough votes in both chambers of a legislature to override a governor’s veto, often, though not always, by controlling two-thirds of the chamber. As gerrymanders built by both parties for decades have tipped the scales to favor the party of the map-drawers, legislative chambers have proved resistant to shifting political winds at the state level. At times, those gerrymanders have locked in minority rule in legislatures while statewide offices, like the governor’s, adhere to the desires of a simple majority of voters.

Persons: gerrymanders Organizations: Democratic Locations: Kansas , North Carolina , Kentucky, Wisconsin

☆ Workers at these 15 companies are happiest with their pay, says new report
▼ + stars: | 2023-11-12 | by ( Jennifer Liu | In Jljenniferliu | ) www.cnbc.com time to read: +4 min

Even so, they remain some of the top companies where employees feel happiest with their pay. 1 spot where workers felt happiest with their pay, according to the analysis. Overall, Herring points out, many tech companies, and especially cybersecurity firms, scored highly on the compensation analysis. 5, respectively), but they remain in the top 15 companies where workers are satisfied with their pay. While workers may feel satisfied with their compensation there, the two tech giants did not fall into the top 100 companies with the happiest workers overall.

Persons: they're, Chad Herring, Herring, Uber —, Warren Buffett Organizations: Big Tech, Boston, Palo Alto, SAP, Google, Boston Consulting, Workers, Employees, Adobe Locations: Palo, California

☆ Parasitic worms highjack their hosts' free will, and scientists finally think they know how
▼ + stars: | 2023-11-11 | by ( Emily Hein | ) www.businessinsider.com time to read: +6 min

Horsehair worms can control a host's brain and steer it to water, where it drowns. These parasitic worms, which resemble dark and stringy horse hair, take control of their host's brain and drive it to suicide. Hairworms' magic copy-cat trickHairworms need water to reproduce, so when they're ready they force their host to water, where ultimately the host drowns. Horsehair worms make their hosts more active in the middle of the day , when it's easier to find light reflecting off water. So the Chordodes worms can only control mantises and can't puppeteer other insects or mammals, according to the study.

Persons: what's, —, they're, it's, hairworms, Tappei Mishina, Hairworms, Rather, Mishina Organizations: Service, University of California's, Pest Management

☆ Biden’s economic scorecard touts fragile advantage
▼ + stars: | 2023-11-09 | by ( Ben Winck | ) www.reuters.com time to read: +11 min

And if the political strategist James Carville was right that “it’s the economy, stupid,” the next several months could make or break Joe Biden’s economic record. As things stand, the current ruler of the free world touts a fragile advantage. Households’ disposable income after adjusting for inflation hit a record $20 trillion in the month that Biden’s measure was approved, according to the Bureau of Economic Analysis. STUDENT LOANSForgiving swaths of student debt was another of Biden’s campaign promises, but his efforts have so far failed. And with higher interest rates making debt service more expensive, Biden’s spending could come back to bite him on election day.

Persons: Joe Biden, Ken Cedeno, James Carville, Joe Biden’s, “, aren’t, Breakingviews, it’s, Biden, Donald Trump, Mitch McConnell, ”, Realtor.com, Congressional Republicans haven’t, haven’t, WALL, Lauren Silva Laughlin, Sharon Lam, Aditya Sriwatsav Organizations: Edmond's Catholic, REUTERS, Rights, Reuters, House, Republican, AMERICAN, ACT, Brookings Institution, Analysis, Walmart, Nordstrom, Deere, Caterpillar, Republicans, Commerce Department, Micron, Bank of America, Gallup, Federal Reserve, United Auto Workers, RSM, Congressional Republicans, Biden, Reuters Graphics Reuters, Conservative, Thomson Locations: St, Rehoboth Beach , Delaware, U.S, New York, Arizona, West Virginia

☆ Where Trump Counties in Ohio Voted to Support Abortion Rights
▼ + stars: | 2023-11-08 | by ( Lazaro Gamio | Amy Schoenfeld Walker | ) www.nytimes.com time to read: +4 min

Where Trump Counties in Ohio Voted to Support Abortion RightsOhio’s referendum on abortion rights drew support from both liberal and conservative areas of the state and won outright in 18 counties that President Donald J. Trump won in 2020, signaling the issue remains a weakness for Republicans. How Ohio counties voted on Issue 1 Yes, for abortion rights No, against abortion rights Cleveland Columbus Cincinnati Dayton Toledo Akron Shaded areas are the 18 counties that both voted for Trump in 2020 and voted to approve the abortion rights amendment. Across the state, the margin of support for abortion rights was stronger than the margin of support for Mr. Biden three years ago. Among the Trump counties that voted for the amendment, the abortion rights vote was stronger where Mr. Trump won by smaller margins. Against ⭠ Abortion rights ⭢ Trump counties that voted to support abortion rights 18 countiesin Ohio 67 counties insix other states Notes: Circles are sized by vote count.

Persons: Donald J, Trump, Joseph R, Biden, Roe, Wade, ⭢ Organizations: Trump, Cleveland Columbus Cincinnati Dayton Toledo, Lorain, Delaware, Trumbull, Erie, Mahoning, Medina, Wood, Geauga, Ashtabula, Stark, Ottawa, Fairfield, Licking, Butler, Clark, Republican, Biden, % % % % % % % % % % % % % % % % % % % % % % % % % % % % % % % % % % % % + Locations: Ohio, Cleveland Columbus Cincinnati Dayton Toledo Akron, Trump, . Ohio, California , Michigan, Vermont, Kansas, Kentucky, Montana, California, Maryland, New York, Arizona, Florida, Iowa, Pennsylvania, Midwestern, Southern

He also lowered his price target by $6 to $120, implying just 3.9% upside from Tuesday's close. Analyst Shaun Kelley has a $40 price target on shares, implying shares could gain 11.4% from Tuesday's close. Rivian shares jumped more than 7% after the company increased its production forecast for the full year by 2,000 units to 54,000. Datadog shares have produced zero return over the past three years, Murphy noted, with shares down 9% since Oct. 15, 2020. UBS has a neutral rating on Apple and a price target of $190 per share, which implies upside of 4.5%.

Persons: Cowen downgrades Estee, TD Cowen, Estee Lauder, Oliver Chen, Chen, — Hakyung Kim, Shaun Kelley, Kelley, Goldman, Goldman Sachs, Neil Mehta, Mehta, There's, Colin Langan, Langan, Piper Sandler, Alexander Potter, Potter, Rivian, Mark Delaney, Morgan Stanley, Jonas, Mark Murphy, Murphy, David Vogt, Vogt, Fred Imbert Organizations: CNBC, Tech, UBS, JPMorgan, Revenue, Asia, Bank of America, Industry, Mehta ., Wall Street, Rivian, pullbacks, Pro, Pro Max, Apple Locations: China, Asia Pacific, Europe, Middle East, Africa, Tuesday's, U.S

☆ How companies decide who to lay off
▼ + stars: | 2023-11-05 | by ( Juliana Kaplan | ) www.businessinsider.com time to read: +6 min

Over the last few years, many workers have faced layoffs, which can come as a nasty shock. Teal Pennebaker, who works with companies on communications, said layoffs often aren't personal. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . As large firms slash their workforces , with potentially even more cuts to come , layoffs might be top of mind for some. "Typically, what you're finding with these broader layoffs is that they're not at all related to performance," she said.

Persons: Teal Pennebaker, —, who's, Pennebaker, that's, it's, It's, they're Organizations: Service, Shallot Communications

☆ An Attempt to End the Winning Streak for Abortion Rights - The New York Times
▼ + stars: | 2023-11-05 | by ( David N. Hackney | ) www.nytimes.com time to read: +2 min

By Nov. 7, my fellow Ohioans will cast votes on Issue 1, a ballot initiative that would secure access to reproductive health care, including abortion. It is the only statewide election specifically about reproductive rights in 2023. I’m on the committee that helped draft the language for the proposed amendment: It is short (just over 200 words), easy to understand and written to specifically reflect the beliefs of our state. Instead, voters will see an unnecessary and biased summary of the proposed amendment. The clear lesson from 2022, when six states cast votes for reproductive rights, as well as the results of the recent Wisconsin Supreme Court race, is that voters vote in favor of abortion rights.

Persons: Ohioans, I’m, Dobbs Organizations: Jackson, Health Organization Locations: Ohio, Wisconsin

☆ Wegovy Maker Novo Nordisk’s Profit Surges on Weight-Loss-Drug Demand
▼ + stars: | 2023-11-02 | by ( Dominic Chopping | ) www.wsj.com time to read: 1 min

Diabetes drugs could become an effective way to treat behavioral issues and addiction. WSJ’s Daniela Hernandez breaks down the science on how they work and how they could change psychiatry forever. Photo illustration: Elizabeth SmelovWegovy maker Novo Nordisk reported soaring profit, boosted by blockbuster weight-loss drugs that have quickly made the Danish drugmaker Europe’s most valuable company. Surging demand for the drugs has supercharged the company’s stock price, tilted the scales of its home economy in Denmark and triggered a frenzy on Wall Street over how the treatments and others like it might affect other industries, including snack foods and airlines.

Persons: WSJ’s Daniela Hernandez, Elizabeth Smelov Organizations: Novo Nordisk Locations: Danish, Denmark

GENEVA (AP) — The near certainty that Saudi Arabia will host the 2034 men's World Cup unites two of the most influential men in world sports: the leader of soccer's governing body and the kingdom's crown prince. In the case of Saudi Arabia, U.S.-based journalist Jamal Khashoggi was slain inside the Saudi Consulate in Istanbul in 2018. The men’s World Cup should earn Switzerland-based FIFA more than $10 billion in almost entirely tax-free revenue. “Mohammed bin Salman wants Saudi Arabia to be a hub of anything and everything,” Middle East expert James Dorsey said. Then came the COVID-19 pandemic and FIFA canceled the planned June 2021 relaunch in China of its Club World Cup event.

Persons: Gianni Infantino, Prince Mohammed bin Salman, sportswashing, Jamal Khashoggi, Prince Mohammed, Infantino, King Salman, Prince Mohammed's, “ Abraham, ”, Donald Trump, ” Infantino, Mohammed's, Cristiano Ronaldo, “ Mohammed bin Salman, James Dorsey, Greece —, —, Australia –, they’ve, James Johnson, “, Yasser Al Misehal –, – Organizations: GENEVA, FIFA, Australia, Qatar, White House, “ Abraham Accords, United Arab, Soccer, Newcastle, Russia, Saudi, ” Football Australia, ” FIFA, FIFA Council, Fox News Locations: Saudi Arabia, Persian, Saudi, U.S, Istanbul, Riyadh, Switzerland, Gulf, Israel, United Arab Emirates, Bahrain, Europe, Swiss, China, Qatar, United States, Canada, Mexico, Egypt, Greece, Africa, South America, Asia, Oceania, Saudi Arabian, Australia

☆ Larry Fink’s next M&A may go in surprise direction
▼ + stars: | 2023-11-01 | by ( Lauren Silva Laughlin | ) www.reuters.com time to read: +8 min

Reuters GraphicsTIPPING THE SCALESThe shift to low-fee products helped BlackRock’s assets under management swell to more than $9 trillion at the end of September. BlackRock’s history with Blackstone means a reunion with Stephen Schwarzman’s $110 billion firm is a persistent Wall Street rumor. BlackRock’s funds operate under a single name, so uniting with Carlyle (CG.O) or Apollo Global Management (APO.N) would pose a branding challenge. Fink might covet MSCI (MSCI.N), the $38 billion firm which aggregates many of the benchmarks tracked by BlackRock’s ETFs. Given Fink’s long record of pulling off opportunistic and transformational deals, it would be foolish to bet against him springing one last surprise.

Persons: Larry Fink, Fink, Merrill, Rowe Price, Janus Henderson, Blackstone, Stephen Schwarzman’s, Carlyle, covet, MSCI, Michael Bloomberg, doesn’t, LSEG –, Peter Thal Larsen, Thomas Shum, Streisand Neto Organizations: CNBC, New York Stock Exchange, Reuters, BlackRock, Blackstone, Barclays Global Investors, Credit Suisse, UBS, nab, Graphics, Apollo Global Management, London Stock Exchange, Thomson Reuters, New, Bloomberg, Wall Street, New York Times, LSEG – Bloomberg, Thomson Locations: New York City, U.S, BlackRock, Boston, Swiss, New York, United States

☆ Why some of the 'clean' hydrogen hubs in the U.S. plan to use natural gas, a fossil fuel
▼ + stars: | 2023-10-31 | by ( Catherine Clifford | In Catclifford | ) www.cnbc.com time to read: +11 min

The others will use a combination of renewables, nuclear power, and natural gas with carbon capture and storage. Putting federal money behind a program to fight climate change while using natural gas, a fossil fuel, as one of its main ingredients may not seem intuitive. To wit, the Bipartisan Infrastructure Law, where the funding for the hydrogen hubs comes from, specifically required that two of the selected hydrogen hubs be located in natural gas-rich regions. Making hydrogen from natural gas with carbon capture will require additional energy and be more expensive than producing hydrogen from natural gas where the excess carbon emissions just spew into the atmosphere. That is what the U.S. government is trying to change with its hydrogen hubs program and the production tax credit.

Persons: Joe Biden, Elizabeth Flores, Jennifer Granholm, Rachel Fakhry, Fakhry, Jonathan Ernst, Kent, Sean Heinroth, Young's, That's, Heinroth, Tom Oakland, Wisconsin —, They've, Alex Kizer, Kizer Organizations: Cummins, Star Tribune, Getty, Swiss Army, U.S . Department of the Energy, Natural Resources Defense, Energy, Department of Energy, CNBC, Reuters, Infrastructure Law, Ernst, of Energy, North Dakota Department of Commerce, Oakland, EFI Foundation, U.S, Treasury Department Locations: America, Fridley, Minn, United States, U.S, Tioga, Philadelphia , Pennsylvania, Houston, Montana , North Dakota, Minnesota, Wisconsin, Washington

SummaryCompanies Shell to cut 200 jobs, or 15%, of low-carbon solutions unitA further 130 jobs under reviewShell scraps hydrogen light mobility unitLONDON, Oct 25 (Reuters) - Shell (SHEL.L) will cut around 15% of the workforce at its low-carbon solutions division and scale back its hydrogen business as part of CEO Wael Sawan's drive to boost profits, it said on Wednesday. Shell plans to sharply scale back its hydrogen light mobility operations, which develop technologies for light passenger vehicles, the company said. It will also merge two of four general manager roles in the hydrogen business, Shell said. The retreat from the light mobility sector follows the departure of the business's manager Oliver Bishop several months ago. Bishop today leads rival BP's (BP.L) global hydrogen mobility business.

Persons: Wael Sawan's, Sawan, Shell, Oliver Bishop, BP's, London . Sawan, Ron Bousso, Jason Neely, Jan Harvey Organizations: Shell, Reuters, Solutions, Sawan, Energy Intelligence, BP, Exxon Mobil, Chevron, Thomson Locations: Shell, Britain, Netherlands, Europe's, Louisiana, London ., U.S

☆ Scientists identify molten layer deep within interior of Mars
▼ + stars: | 2023-10-25 | by ( Will Dunham | ) www.reuters.com time to read: +4 min

"The importance of the far side impact was to produce seismic waves that traversed the deep interior of the planet, including the core. Previously, we had not observed any seismic waves that had transited the core. Unlike Mars, Earth has no molten layer around its core. One of the two studies published on Wednesday indicates this layer is fully molten, with the other indicating that most of it is fully molten, with the top portion partially molten. "We have learned a lot about Mars by studying the unique seismic record provided by the InSight mission," Samuel said.

Persons: Amir Khan, Henri Samuel, Khan, Samuel, Will Dunham, Daniel Wallis Organizations: NASA, JPL, Caltech, Handout, REUTERS, Rights, Tempe Terra, ETH, CNRS, Institut, Physique, Globe, Thomson Locations: Mars, Tempe, ETH Zürich, Switzerland, Paris

☆ GM Scales Back EV Plans as Buyers Hesitate
▼ + stars: | 2023-10-24 | by ( Mike Colias | ) www.wsj.com time to read: 1 min

UAW union members have been striking over job security and pay as automakers push forward in developing EVs, which require fewer workers and cost more in raw materials. So what does that mean for the future of auto workers and the union? Illustration: George Downs/The Wall Street JournalGeneral Motors is abandoning a self-imposed target to build 400,000 electric vehicles by mid-2024, the latest sign that automakers are concerned about the viability of the market for battery-powered cars. The Detroit automaker walked back the goal while reporting a healthy third-quarter profit, despite the hit from the continuing United Auto Workers strike. The walkout, which began in mid-September, is now costing GM about $200 million a week in profit.

Persons: George Downs Organizations: Street, Motors, Detroit, United Auto Workers, GM

☆ Chinese firms backed by global banks found using leopards and pangolins parts, says environmental group
▼ + stars: | 2023-10-23 | by ( Michelle Toh | ) edition.cnn.com time to read: +4 min

Hong Kong CNN —Three top Chinese pharmaceutical companies, which are backed by top global banks, are using endangered animal parts in their medicines, according to an investigation by an environmental protection group. Among them are three publicly listed traditional Chinese medicine (TCM) giants: Beijing Tong Ren Tang, Tianjin Pharmaceutical and Jilin Aodong Medicine. The EIA said it had found at least nine “products stated to contain leopard and/ or pangolin” that were manufactured by the firms. CNN has reached out to Tong Ren Tang, Tianjin Pharmaceutical and Jilin Aodong for comment. Tong Ren Tang, founded in 1669, is one of China’s most storied brands.

Persons: Beijing Tong Ren Tang, Avinash, Tong Ren Tang, ”, “ It’s, ” Basker, pangolins, Sakchai Lalit Organizations: Hong Kong CNN —, Environmental Investigation Agency, Tianjin Pharmaceutical, Jilin Aodong Medicine, EIA, CNN, TCM, Fortune, BlackRock, Citigroup, HSBC, Citi, IUCN SSC Pangolin Locations: China, Hong Kong, Beijing, Tianjin, Jilin, Bangkok

☆ Here's what we hope to see from AI powerhouse Microsoft's quarterly earnings this week
▼ + stars: | 2023-10-23 | by ( Morgan Chittum | ) www.cnbc.com time to read: +4 min

Microsoft's cloud business, Azure, is crucial to its increased focus on AI. Analysts estimate Azure revenue growth in the fiscal first quarter expanded 27% year-over-year in constant currency terms, according to FactSet. Analysts at Piper Sandler said the Nov. 1 general release of Microsoft's 365 Copilot , an AI assistant to productivity applications like Word, should be a catalyst for shares. Bottom line The full payoff of Microsoft's AI efforts won't be fully reflected in the upcoming quarterly results given generative AI is still in its infancy. In July, Chief Financial Officer Amy Hood said growth from the company's AI offerings "will be gradual as Azure AI scales and our Copilots reach general availability dates."

Persons: Bing, Piper Sandler, Amy Hood, Copilot, Jim Cramer's, Jim Cramer, Jim, Omar Marques Organizations: Microsoft, OpenAI, LSEG, Activision Blizzard, CNBC, Getty

☆ How seaweed shaped the past and could shape our future
▼ + stars: | 2023-10-21 | by ( Katie Hunt | ) edition.cnn.com time to read: +7 min

CNN —Too often seaweed is portrayed as a slimy, smelly nuisance that disrupts beach trips and ocean swims. In fact, seaweed, officially a type of marine algae, is an untapped resource that could transform the planet and our health. Farmer Jean-Marie Pedron picks edible seaweed along a beach of Le Croisic in western France in March 2021, for a three-starred chef. As well as offering hope for the future, seaweed indelibly shaped our past, as a fascinating finding released this week has revealed. Hassanain Qambari & Jayden Dickson/Nikon Small World Photomicrography CompetitionCaffeine crystals in a kaleidoscope of color.

Persons: CNN —, Farmer Jean, Marie Pedron, Loic Venance, Vincent Doumeizel, Karen Hardy, —, James Webb, Luke Farritor, Salvatore Laporta, ”, papyrologist Michael McOsker, Farritor, Svante Pääbo, hominins, Hassanain Qambari, Jayden Dickson, Mona Lisa ”, Leonardo da Vinci, Ashley Strickland, Katie Hunt Organizations: CNN, Getty, United Nations, Telescope, National, AP, University of Nebraska, University College London, Diabetes, Nikon, Lions Eye Institute, CNN Space, Science Locations: Le Croisic, France, AFP, Orkney, Scotland, Mount, Naples, Italy, Europe, Altai, Central Asia, Australia, Alaska

Fain confirmed the Detroit Three had converged on a 23% wage hike offer and made progress on other issues. But he told UAW members "there is more to be won". While warning of possible expanded strikes, Fain also told UAW members the talks were closing in on an end. Walkouts began at the three automakers on Sept. 15 and now more than 34,000 union members are waging the UAW's first simultaneous strikes against the Detroit Three. Fain declared "the days of the UAW and Ford being a team to fight other companies are over."

Persons: Rebecca Cook, Shawn Fain, we've, Fain, Walkouts, Bill Ford, Henry Ford, Ford, Tesla, Stellantis, Joseph White, Ben Klayman, Pratyush Thakur, Sayantani Ghosh, Sriraj Kalluvila, Peter Henderson, David Gregorio Our Organizations: General Motors, REUTERS, Rights, United Auto Workers, Detroit Three, UAW, Chrysler, Detroit, Ford, GM, Toyota, Anderson Economic, Thomson Locations: Detroit , Michigan, U.S, Ford's, Kentucky, Detroit, Bengaluru

Fain acknowledged some union members want to vote on the offers the union bargainers have in hand. He urged UAW members not to give in to what he called "fear, uncertainty, doubt and division" sowed by the companies. More than 34,000 union members working at the three automakers are on strike since the walkouts began on Sept. 15. The demand included a 20% immediate increase, elimination of different pay scales among UAW workers and restoration of defined benefit pension plans. The GM offer "suggests we may be in the endgame," said University of California Berkeley labor professor Harley Shaiken.

Persons: Rebecca Cook, Shawn Fain, Fain, General Motors GM.N, Harley Shaiken, Ford, We've, Stellantis, Ford hasn't, Shaiken, it's, Tesla, Bill Ford, Joseph White, Ben Klayman, Pratyush Thakur, Sayantani Ghosh, Sriraj Kalluvila, Peter Henderson, David Gregorio Our Organizations: General Motors, REUTERS, Rights, United Auto Workers, UAW, General, Chrysler, GM, Ford, Bloomberg News, Detroit Three, of California, Ford's, Toyota, Anderson Economic, Detroit, Thomson Locations: Detroit , Michigan, U.S, of California Berkeley, Kentucky, Arlington , Texas, Detroit, Bengaluru

☆ Asian shares hit 11-month low on Middle East anxiety, surging yields
▼ + stars: | 2023-10-20 | by ( Stella Qiu | ) www.reuters.com time to read: +4 min

On Friday, the Bank of Japan intervened in the Japanese government bond (JGB) market as the 10-year JGB yield touched a decade high. MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) skidded 0.8% to a fresh low since November last year, bringing the weekly loss to a sizeable 3%. "World leaders continue to trek to the Middle East to – if nothing else — delay the onset of any further hostility," said Kyle Rodda, senior financial market analyst at capital.com. Oil prices are headed for the second weekly gain on supply fears from an escalating regional conflict in the Middle East. "Now we’re talking about not just the Ukraine-Russia conflict, that front, but now you have another front, that’s in the Middle East that has to be satisfied...

Persons: Jerome Powell, Hong, HSI, Joe Biden, Israel, Kyle Rodda, Brent, Powell, Quincy Krosby, Stella Qiu, Shri Navaratnam Organizations: SYDNEY, Bank of Japan, Tokyo's Nikkei, Elon, U.S, LPL, Washington, Thomson Locations: East, Middle, Asia, Pacific, Japan, China, Iran, Yemen, Israel, Ukraine, Russia, U.S

☆ Gold scales 3-month peak as Middle East conflict lifts demand
▼ + stars: | 2023-10-20 | by ( ) www.cnbc.com time to read: +2 min

Gold prices hit a three-month high on Friday and were set for a second straight weekly gain, with demand bolstered by the Middle East conflict and expectations that the Federal Reserve's rate hikes are nearing an end. Spot gold was up 0.2% at $1,978.19 per ounce by 0542 GMT, after hitting its highest since July 20. "Gold prices were supported as fears of another Fed rate hike in 2023 subside. We remain neutral towards gold prices for 2023, expecting prices to average $1,950/oz," Fitch Solutions said in a note. Spot silver fell 0.4% to $22.94 per ounce, but was headed for a second weekly rise.

Persons: Kyle Rodda, Yoav Gallant, Jerome Powell, Wang Tao Organizations: Agosi AG, Capital.com, Israeli, Fitch Solutions, Economic, of New Locations: Pforzheim, Israel, Gaza

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