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The logo of Industrial and Commercial Bank of China (ICBC) is pictured at the entrance to its branch in Beijing, China April 1, 2019. ICBC, whose U.S. arm was hit by a ransomware attack that disrupted trades in the U.S. Treasury market on Nov. 9, did not immediately respond to a request for comment. "They paid a ransom, deal closed," the Lockbit representative told Reuters via Tox, an online messaging app. "The market is mostly back to normal now," said Zhiwei Ren, a portfolio manager at Penn Mutual Asset Management. The ransomware attack came at a time of heightened worries about the resiliency of the $26 trillion Treasury market, essential to the plumbing of global finance, and is likely to draw scrutiny from regulators.

Persons: Florence, BNY Mellon, Zhiwei Ren, Ransom, Allen, James Pearson, Davide Barbuscia, Carolina Mandl, Tatiana Bautzer, Pete Schroeder, Michelle Price, David Goodman, Jonathan Oatis, Alexander Smith Organizations: Industrial, Commercial Bank of China, REUTERS, Commercial Bank of, Reuters, U.S . Treasury, Penn Mutual Asset Management, Treasury, U.S . Treasury Department, Financial, Authorities, Boeing, Overy, Washington DC, Thomson Locations: Beijing, China, Commercial Bank of China, U.S, Tox, United States, London, Carolina, New York, Washington

The Bank of New York Mellon Corp. building at 1 Wall St. is seen in New York's financial district March 11, 2015. BNY Mellon, the sole settlement agent for Treasury securities, disconnected the Chinese bank from the platform after the hack and is waiting for a third party to attest that it is safe to reconnect, the sources said. The attack, confirmed by ICBC on Thursday, is the latest in a string of demands for ransom that hackers have claimed this year. ICBC Financial Services, the bank's U.S. unit, said it was investigating the attack that disrupted some of its systems, and making progress toward recovering from it. Reporting by Lananh Nguyen and Paritosh Bansal; Editing by Megan DaviesOur Standards: The Thomson Reuters Trust Principles.

Persons: Brendan McDermid, BNY Mellon, ICBC, Lananh Nguyen, Paritosh, Megan Davies Organizations: of New York Mellon Corp, REUTERS, Commercial Bank of, Treasury, ICBC Financial Services, Thomson Locations: U.S

ICBC's U.S. unit told market participants on Friday it was hoping to finish the cyber review over the weekend, but the sources said they expected it would spill into next week. The cyberattack sent ripples through the U.S. Treasuries market, where ICBC acts as a broker for hedge funds and other market participants, helping them trade in the securities. The Chinese parent then injected capital into the U.S. unit, allowing it to settle the trades and pay back BNY Mellon, the sources said. They also told market participants about the capital injection but did not disclose the amount or the reason for it, the sources said. SIFMA, the trade group, organized calls for market participants with updates, the sources said.

Persons: Tingshu Wang, BNY Mellon, ransomware, ICBC, SIFMA, Janet Yellen, Lifeng, Scott Skyrm, Jack McIntyre, Harry Robertson, James Pearson, Naomi Rovinick, Yoruk, Davide Barbuscia, Chris Prentice, Mike Derby, Carolina Mandl, Laura Matthews, Paritosh, Zeba, Megan Davies, Dhara Ranasinghe, Alexander Smith, Richard Chang, Anna Driver Organizations: Asset Management, Fair for Trade, Services, REUTERS, Commercial Bank of China, U.S ., ICBC Financial Services, Securities Industry, Financial Markets Association, ICBC, Treasury, China, U.S, New York Federal Reserve, Securities, Depository Trust, Clearing Corp, Thomson Locations: Beijing, China, ICBC's U.S, U.S, San Francisco, Treasuries, Hong Kong, Shanghai, London, Amsterdam, Carolina, New York

☆ Brazen ransomware attack on US unit of Chinese banking giant has financial sector on alert
▼ + stars: | 2023-11-10 | by ( Sean Lyngaas | ) edition.cnn.com time to read: +5 min

It led to a flurry of behind-the-scenes coordination with the affected bank and across the financial sector about the threat. The hackers hit New York-based ICBC Financial Services, a subsidiary of the world’s largest bank by assets and a Chinese state-owned institution. ICBC Financial Services did not respond to CNN’s request for comment on Friday. “If China sees this as a black eye, they may demand action from the Russian government,” Liska told CNN. LockBit ransomware was the most deployed ransomware around the world in 2022, according to US cybersecurity officials.

Persons: ”, “, ” Jon Miller, Halcyon, BNY Mellon, LockBit, Allan Liska, ” Liska, JPMorgan Chase, LockBit ransomware, ” Will Thomas Organizations: CNN, Commercial Bank of, Intelligence, Financial Services, Treasury, ICBC Financial, Reuters, JPMorgan, FBI, Infrastructure Security Agency, Treasury Department Locations: Commercial Bank of China, US, York, China, Russia, United States, Iran, cybersecurity

☆ Exclusive: ICBC hack led to unit temporarily owing BNY $9 bln - sources
▼ + stars: | 2023-11-10 | by ( ) www.reuters.com time to read: +1 min

The logo of Industrial and Commercial Bank of China (ICBC) is seen at its branch at its headquarters in Beijing, China, March 30, 2016. BNY has since been paid back, the sources said. The attack, confirmed by ICBC on Thursday, is the latest in a string of ransom demands by hackers this year. ICBC Financial Services, the bank's U.S. unit, said on Thursday it was investigating the attack that disrupted some of its systems, and making progress toward recovering from it. Reporting by Paritosh Bansal; editing by Megan DaviesOur Standards: The Thomson Reuters Trust Principles.

Persons: Kim Kyung, BNY, ICBC, Paritosh, Megan Davies Organizations: Industrial, Commercial Bank of China, REUTERS, Commercial Bank of China's, U.S, Bank of New York Mellon, ICBC Financial Services, Securities Industry, Financial Markets Association, Thomson Locations: Beijing, China, U.S

A BNY Mellon sign is seen on their headquarters in New York's financial district, January 19, 2011. "We're in a period when the Treasury market needs to be relied upon for its safety and liquidity," Nate Wuerffel, head of market structure at BNY Mellon, said in an interview. "And if on top of that you're trying to implement very rapidly a fundamental reassembly of the Treasury market, that's when you run the risk of having market functioning deteriorate." Liquidity crunches in recent years have raised regulatory concerns about the Treasury market's ability to function during times of stress. "Central clearing will strengthen the market’s core attributes of safety and liquidity in times of stress.

Persons: Brendan McDermid, BNY Mellon, Treasuries, Nate Wuerffel, Wuerffel, Davide Barbuscia, Laura Matthews, Richard Chang, Sam Holmes Organizations: REUTERS, Companies Bank of New York Mellon, U.S . Securities, Exchange Commission, Treasury, SEC, BNY, Federal Reserve, Federal, Thomson Locations: New

A BNY Mellon sign is seen on their headquarters in New York's financial district, January 19, 2011. "We're in a period when the Treasury market needs to be relied upon for its safety and liquidity," Nate Wuerffel, head of market structure at BNY Mellon, said in an interview. "And if on top of that you're trying to implement very rapidly a fundamental reassembly of the Treasury market, that's when you run the risk of having market functioning deteriorate." Notably, in March 2020 the market seized up as pandemic fears gripped investors, prompting the Federal Reserve to buy Treasuries to support the market. "An extended implementation timeline in the final rule could substantially lower the risk that the transition itself could worsen market functioning," Wuerffel said in a note on Wednesday.

Persons: Brendan McDermid, BNY Mellon, Treasuries, Nate Wuerffel, Wuerffel, Davide Barbuscia, Laura Matthews, Richard Chang Organizations: REUTERS, Companies Bank of New York Mellon, U.S . Securities, Exchange Commission, Treasury, SEC, BNY, Federal Reserve, Federal, Thomson Locations: New

☆ Lloyd's of London to invest $65 million following slavery report
▼ + stars: | 2023-11-08 | by ( Carolyn Cohn | ) www.reuters.com time to read: +3 min

Signage is seen inside the Lloyd's of London building in the City of London financial district in London, Britain, April 16, 2019. The 335-year old insurance market apologised in 2020 for its role in the 18th and 19th century slave trade. The Lloyd's market is made up of nearly 50,000 people, and Lloyd's wants one in three new hires to come from ethnic minorities. Historians estimate between one and two-thirds of the British marine insurance market was based on the slave trade in the 18th century. The research also showed that Joseph Marryat, Lloyd's of London chairman from 1811 to 1824, had enslaved people, White added.

Persons: Hannah McKay, Lloyd's, We've, Bruce Carnegie, Brown, Alexandre White, Joseph Marryat, White, Garba, Carolyn Cohn, Sinead Cruise, Jan Harvey, Elaine Hardcastle Organizations: REUTERS, London, Black, Johns Hopkins University, Mellon Foundation, Reuters, Central Fund, African Development Bank, Inter, American Development Bank, UN, Equity, of, United Nations, European Union, U.S, Thomson Locations: London, City, Britain, Liverpool, Lloyd’s

☆ HSBC to launch storage services for tokenized securities as more big banks warm to blockchain
▼ + stars: | 2023-11-08 | by ( Ryan Browne | ) www.cnbc.com time to read: +2 min

HSBC on Wednesday announced it will offer custody services for tokenized securities, making the British bank the latest major institution to embrace digital assets. HSBC is using technology from Swiss crypto custody firm Metaco, which was recently acquired by blockchain startup Ripple, to store bonds and other securities. HSBC is the latest institution to embrace digital asset custody, after U.S. banking giant BNY Mellon announced a similar move in 2021. Tokenized securities are effectively regulated assets, like bonds and equities, in the form of tokens issued on a blockchain. It marks another step from HSBC toward embracing digital assets.

Persons: BNY Mellon, bitcoin, Banks, Zhu Kuang Lee, Adrien Treccani Organizations: HSBC, Wednesday, HSBC Orion, BNY, CNBC, Hong Locations: Europe, British, Swiss, Hong Kong

Boston University said Tuesday that its initial inquiry into the antiracist research center run by best-selling author and academic Ibram X. Kendi found no issues with how it managed its finances. The university launched the inquiry into the financials of the BU Center for Antiracist Research, or CAR, in September, after acknowledging the organization was laying off about half of its staff and changing its operating model. The center has raised more than $50 million, with $30 million of that put into an endowment, the university said. The university's inquiry will continue, now focusing on the center's management of grants from outside funders, including the extent to which it complied with required reporting. The university's inquiry and finding announced Tuesday aimed to address those questions, though the university declined a request to share the audit.

Persons: Kendi, Gary Nicksa, ”, George Floyd, ” Kendi, Korn, “ I’ve, Earl Lewis, Andrew W, Lewis, “, ’ ” Lewis Organizations: Boston University, BU Center, Antiracist Research, Associated Press, BU, Mellon Foundation, University of Michigan Center for Social Solutions, Associated, Lilly Endowment Inc, AP Locations: Minneapolis, “

[1/2] The Bank of Israel building is seen in Jerusalem June 16, 2020. Israel's central bank has played its part too with a flurry of support measures, and has stayed away from rate cuts. At the outset of the war, markets were stunned. "The Bank of Israel took very aggressive action," said Gil Moshe, the head of markets at the Israel unit of U.S. bank Citi. Looking to next year, Shmuel Katzavian, a strategist at Israel's Discount Bank, expects the shekel to continue to strengthen.

Persons: Ronen, Israel's, Yaniv Pagot, Amir Yaron, Geoff Yu, Gil Moshe, Pagot, Shmuel Katzavian, Steven Scheer, Marc Jones, Jan Harvey Organizations: Bank of, REUTERS, Rights, Tel Aviv Stock Exchange, Reuters, U.S . Federal Reserve, BNY Mellon, Reuters Graphics, Israel, Citi, Israel's Discount Bank, Thomson Locations: Bank of Israel, Jerusalem, Gaza, Iran, Lebanon, Israel's, Israel, U.S, London

☆ A value fund manager who's beaten 99% of his peers in the last three years explains how he avoids bad investments — and makes the case for 3 stocks he loves heading into 2024
▼ + stars: | 2023-11-05 | by ( James Faris | ) www.businessinsider.com time to read: +7 min

The 31-year market veteran has achieved enviable results since the start of 2005 while running the BNY Mellon Dynamic Value Fund (DAGVX) alongside co-manager Brian Ferguson. How to invest — and common mistakes to avoidLike all value fund managers, Bailer refuses to overpay for stocks — regardless of how enticing their businesses look. "It's a philosophy that's based on looking for stocks with great valuations, but not stopping with great valuations," Bailer said. Companies in the BNY Mellon Dynamic Value Fund must have both quality fundamentals and improving business momentum, Bailer said. The six largest stocks in the BNY Mellon Dynamic Value Fund were in one of two sectors, as of September 30: financials and healthcare.

Persons: John Bailer, Brian Ferguson, it's, Bailer, we've, headwinds, they've, he's, Warren Buffett, Berkshire Hathaway, Buffett, Charlie Munger Organizations: Value Fund, Companies, Value, Firms, Berkshire, JPMorgan Locations: Berkshire

☆ Fact Check: California governor Newsom misidentified in resurfaced video
▼ + stars: | 2023-11-03 | by ( Reuters Fact Check | ) www.reuters.com time to read: +1 min

A video showing an individual falling down the steps of a plane has been miscaptioned in online posts in November as showing California governor Gavin Newsom. Senator Tommy Tuberville in 2014 during his tenure as coach of the college football team Cincinnati Bearcats. Gavin Newsom falls down from plane's stairs.” Another similar post said: “Down goes newsom,” referring to the governor. “That’s not the governor,” Erin Mellon, the communications director for Newsom, said via phone, referring to the video circulating online. The individual in the circulating video was misidentified as California governor Gavin Newsom.

Persons: Gavin Newsom, Tommy Tuberville, “ Down, newsom, ”, “ That’s, Erin Mellon, Newsom, MeidasTouch, Brett Meiselas, Tommy Tumbleville, Tuberville, Read Organizations: Republican U.S, Cincinnati Bearcats, California, UVA, Reuters, Thomson Locations: California, Alabama

☆ Analysis: Traders bet ECB will be first big central bank to cut rates
▼ + stars: | 2023-11-03 | by ( Yoruk Bahceli | ) www.reuters.com time to read: +5 min

A view shows the logo of the European Central Bank (ECB) outside its headquarters in Frankfurt, Germany March 16, 2023. With investors confident that big central banks are likely done raising rates, focus has switched to when rate cuts will start. Traders now price in over an 80% chance of a 25 basis-points (bps) ECB cut by April, which had been fully priced for July last week. Piet Christiansen, chief analyst at Danske Bank, said the expectations for ECB rate cuts now reflected a "doom and gloom" scenario. He added the ECB would need to cut rates at least as much as traders expect next year.

Persons: Heiko Becker, BoE, Shamik Dhar, Christine Lagarde, Piet Christiansen, Lagarde, Goldman, Gurpreet Gill, Dario Perkins, Yoruk, Sumanta Sen, Kripa Jayaram, Dhara Ranasinghe, Emelia Organizations: European Central Bank, REUTERS, Traders, ECB, Fed, Federal Reserve, Bank of England, BNY Mellon Investment, Treasury, Reuters, Danske Bank, Asset Management, Lombard, Thomson Locations: Frankfurt, Germany, United States, Europe, U.S, Britain, Israel

☆ 'Treasury market is still there to inflict some pain,' strategist says
▼ + stars: | 2023-10-31 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via Email'Treasury market is still there to inflict some pain,' strategist saysGeoffrey Yu, director of EMEA market strategy at BNY Mellon, discusses what could lie ahead for equity and bond markets, along with the investing outlook across regions.

Persons: Geoffrey Yu Organizations: Treasury, BNY Mellon

☆ The US dollar is 'not forever' a safe haven asset, says Dreyfus and Mellon's Reinhart
▼ + stars: | 2023-10-31 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe US dollar is 'not forever' a safe haven asset, says Dreyfus and Mellon's ReinhartVincent Reinhart, Dreyfus and Mellon chief economist and macro strategist, joins 'Squawk on the Street' to discuss what the rise in the long end of the yield curve could do for the Federal Reserve, how the United States' rate decision impact the global economy, and more.

Persons: Dreyfus, Mellon's Reinhart Vincent Reinhart Organizations: Mellon, Federal Reserve Locations: United States

☆ Biden announces $1.3 billion to build new power lines, upgrade aging electric grid
▼ + stars: | 2023-10-30 | by ( Rebecca Picciotto | ) www.cnbc.com time to read: +3 min

President Joe Biden announced Monday a $1.3 billion federal investment to build three new interstate power lines in an effort to upgrade the United States' outdated electric grid and transition it to clean energy. The department said the construction of the power lines would create roughly 13,000 new jobs. U.S. energy infrastructure was already in need of an upgrade. The $1.3 billion investment is a step in the right direction, but it does not mean three new power lines will magically appear. Federal agencies, along with the Biden administration, have previously said they would work to expedite federal permitting processes to make grid infrastructure development more efficient.

Persons: Biden, Joe Biden, Energy Jennifer Granholm, Leah Messenger, Messenger Organizations: Carnegie Mellon University, Infrastructure Investment, Jobs, States, Energy, Department of Energy, Biden, U.S . Energy Information Administration, Twin, National Grid, DOE Locations: Pittsburgh , Pennsylvania, United States, Arizona , Nevada , New Hampshire , New Mexico , Utah, Vermont, New Mexico, Arizona, The, New England, U.S, Twin States, States

☆ In the Market: Treasury market braces for seismic SEC rule
▼ + stars: | 2023-10-30 | by ( Paritosh Bansal | Thomson Reuters | Paritosh Oversees The Work Of More Than Journalists Across The Globe Who Write About Finance | ) www.reuters.com time to read: +6 min

SIFMA, which has lobbied the SEC, expects the final rule next month, ahead of a Treasury market conference on Nov. 16. The SEC rule would be the most significant regulation so far to come out of that review. There is broad consensus on the need for Treasury market reform, including the benefits of central clearing -- even among the industry sources interviewed for this article. "It is going to improve financing and reduce the risks for turmoil in the U.S. Treasury market," said Yiming Ma, an associate professor at Columbia Business School. The SEC rule would force the banks to move that to central clearing.

Persons: Andrew Kelly, JPMorgan Chase, ”, Rob Toomey, SIFMA's, Gary Gensler, Banks, Ma, SIFMA, Toomey, Paritosh Bansal, Anna Driver Organizations: U.S . Securities, Exchange Commission, Washington , D.C, REUTERS, Treasury, SEC, JPMorgan, Bank of New York Mellon, Federal Reserve, U.S . Treasury, Columbia Business School, Depository Trust, Clearing Corp, Thomson Locations: Washington ,, U.S

☆ Jamie Dimon's stock-moving trades show why investors should track CEOs' buying and selling
▼ + stars: | 2023-10-28 | by ( Kevin Stankiewicz | In Kevinstankiewicz | ) www.cnbc.com time to read: +24 min

While executive stock sales — such as Dimon's planned transactions next year — are not universally red flags, they can get complicated. Insider stock sales Executive stock trades are usually disclosed through SEC filings known as Form 4 documents and accessible through the regulator's EDGAR database — the electronic data gathering, analysis, and retrieval system. Rule 10b5-1 trading plans came into the fold just over two decades ago to reconcile these two discordant facts. Adopting Rule 10b5-1 trading plans gives public-company executives a way to protect against allegations of illegal insider trading in the future. Compared with a tiny stock sale executed through a predetermined plan, executive stock buys generally send a much stronger signal: The executive wants to make money, too.

Persons: Jamie Dimon, Dimon, Jim Cramer, Jim, Eliezer Fich, Dimon's, EDGAR, Chester Spatt, Spatt, —, Susan Li, Drexel's, Wharton, Drexel's Fich, Fich, I'm, Nancy Quan's, Quan, Marc Benioff, Carnegie Mellon's Spatt, Benioff, Howard Schultz, Schultz's, Schultz, Carnegie Mellon's, Nikesh Arora, Arora, Charles Scharf, Wells, Sehwa Kim, Kim, Foot, Mary Dillon, Locker, Dillon, Foot Locker, Jim Cramer's, Al Drago Organizations: JPMorgan Chase, JPMorgan, Dow Jones Industrial, Wall, Dimon, Pfizer, Capitol, Drexel University, Club, Securities, Exchange Commission, SEC, Carnegie Mellon's Tepper School of Business, CNBC, Stanford University, University of Pennsylvania's Wharton School, Stanford, Cola, Salesforce, Carnegie, Starbucks, Palo Alto Networks, Alto Networks, Broadcom, Federal Reserve, Washington Service, Columbia Business School, JPMorgan Chase &, Bloomberg, Getty Locations: U.S, Coke, Salesforce, FL

☆ BNY Mellon's Sonia Meskin: Central expectation for S&P 500 headed into year-end is about 4000
▼ + stars: | 2023-10-26 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBNY Mellon's Sonia Meskin: Central expectation for S&P 500 headed into year-end is about 4000Sonia Meskin, head of U.S. macro at BNY Mellon Investment Management, joins 'Closing Bell' to discuss her year-end outlook on the market and economy.

Persons: Sonia Meskin Organizations: BNY Mellon Investment Management

On the earnings front, United Parcel Service (UPS.N) dipped 3.5% after lowering its full-year revenue forecast, while Royal Caribbean Group (RCL.N) rose 2.5% after the cruise company raised its full-year profit forecast. Hasbro (HAS.O) fell 8.2% after the maker of Transformers action figures cut its annual revenue forecast. So far, 80% of the 146 S&P 500 companies that have reported results have beat earnings expectations, LSEG data showed on Wednesday. ET, Dow e-minis were down 151 points, or 0.46%, S&P 500 e-minis were down 30.75 points, or 0.73%, and Nasdaq 100 e-minis were down 146.25 points, or 1.01%. Align Technology (ALGN.O) tanked 23.9% after the dental company lowered its full-year revenue forecast.

Persons: Brendan McDermid, Tesla, Bob Savage, BNY Mellon, Ankika Biswas, Shashwat Chauhan, Maju Samuel Organizations: New York Stock Exchange, REUTERS, Ford, UAW Futures, Dow, Nasdaq, Big Tech, Treasury, Microsoft, United Parcel Service, Royal Caribbean Group, Hasbro, Mattel, Market, BNY, Federal Reserve, Dow e, Hamas, Ford Motor, United Auto Workers, Technology, Thomson Locations: New York City, U.S, Israel, Gaza, Russia, Bengaluru

☆ Stock futures rise after the Nasdaq declines further into correction territory: Live updates
▼ + stars: | 2023-10-26 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +2 min

Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., October 26, 2023. U.S. stock futures rose on Thursday night after the Nasdaq Composite slipped further into correction territory. Futures tied to the S&P 500 advanced 0.5%, while Dow Jones Industrial Average futures advanced 115 points, or 0.3%. The action comes after the index slid into correction territory on Wednesday. The S&P 500 ended the day 1.18% lower — 9.8% off its closing high for the year in July and teetering dangerously close to correction territory.

Persons: teetering, Sonia Meskin, We're, Dow, Dow Jones Organizations: New York Stock Exchange, Nasdaq, Dow Jones Industrial, UAW, Dow, BNY Mellon Investment Management, PCE, Chevron, Exxon Mobil Locations: New York City, U.S

☆ California DMV suspends Cruise's self-driving car permits, effective immediately
▼ + stars: | 2023-10-24 | by ( Hayden Field | ) www.cnbc.com time to read: +4 min

"When there is an unreasonable risk to public safety, the DMV can immediately suspend or revoke permits," the California DMV said in a statement. The California Department of Motor Vehicles on Tuesday suspended Cruise's deployment and testing permits for its autonomous vehicles, effective immediately. A Cruise self-driving car, which is owned by General Motors Corp, is seen outside the company's headquarters in San Francisco. "We learned today at 10:30 am PT of the California DMV's suspension of our driverless permits," Cruise spokesperson Hannah Lindow told CNBC in a statement. The probe, spearheaded by the National Highway Traffic Safety Administration, was prompted by multiple reports involving pedestrian injuries and Cruise vehicles in recent months, and it concerns an estimated 594 self-driving Cruise vehicles, according to the filing.

Persons: Hannah Lindow, Cruise, Philip Koopman, that's, Koopman, Kyle Vogt, — CNBC's Lora Kolodny Organizations: DMV, California DMV, Cruise, General Motors, The California Department of Motor Vehicles, General Motors Corp, CNBC, National, Traffic Safety Administration, Carnegie Mellon University, California's Public Utilities Commission, Google, LinkedIn Locations: California, San Francisco, U.S

☆ Tesla Cybertruck's unique, angular design makes it difficult to manufacture, slowing production
▼ + stars: | 2023-10-20 | by ( Lloyd Lee | Tim Levin | ) www.businessinsider.com time to read: +3 min

One issue is the Cybertruck's design, which experts have said will pose manufacturing challenges. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . Musk pointed to the unique design of the vehicle, which he said is packed with "a lot of new technology," that makes manufacturing the Cybertruck at high volumes an immense challenge. What makes the truck unique — its angular design and stainless steel body — is a large part of the problem, Musk and experts have said.

Persons: Tesla, Elon Musk, —, Musk, Adrian Clarke, Clarke, Raj Rajkumar Organizations: Service, CNBC, Fast Company, Carnegie Mellon University, Wired

☆ Opinion | An Evolving Moral High Ground in the Israel-Gaza War
▼ + stars: | 2023-10-18 | by ( Charles M. Blow | ) www.nytimes.com time to read: +2 min

Yet there’s been an acute debate around this very question here in America in recent days. Most Americans assess this conflict the way they do many others: at arm’s-length and an ocean away. And they do so through the prism of their own sense of fairness and justice. It is a part of who they are and how they think. And it is with that compass that many of them evaluate the broader dispute over Israel’s control of the Palestinian territories and the immediate conflict between Israel and Hamas.

Persons: there’s, Elizabeth Alexander, Andrew W, Trayvon Martin Organizations: Israel, Mellon Foundation, Hamas Locations: America, Israel

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