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☆ The disruptive effect of weight loss drugs like Ozempic could have surprising impacts on the stock market. Here are potential winners and losers.
▼ + stars: | 2023-09-24 | by ( Matthew Fox | ) www.businessinsider.com time to read: +7 min

The potential ripple effects of GLP-1 weight loss drugs like Ozempic and Wegovy are far-reaching. These are the stock market's potential winners and losers of the fast-growing weight loss drugs. By contrast, typical weight loss without GLP-1 drugs is mostly driven by a reduction in fat, not muscle. AdvertisementAdvertisementFast-food chains and junk-food companiesMorgan Stanley surveyed 300 patients taking GLP-1 drugs and found that calorie intake dropped 20%-30% on a daily basis. AdvertisementAdvertisementBeer and tobacco companiesAnecdotes from patients taking GLP-1 drugs indicate that the drug helps curb certain addictive behaviors like smoking cigarettes or drinking alcohol.

Persons: Eli Lilly, Catalent, Fisher, McKesson, Baird, Jeff Johnson, Johnson, Morgan Stanley, Kreme, Morgan Stanley's, Phillip Morris Organizations: Service, Street, Novo Nordisk, JPMorgan, Nordisk, Bloomberg, Fitness, Nike, Inspire, Tandem Diabetes Care, KFC, Yum Brands, Anheuser, Busch, Molson Coors Locations: Wall, Silicon, GLP

A German company is building a constellation of satellites to detect fires from space. “They’re trained very specifically to detect smoke or not, and we train them with images of smoke and images of not smoke,” CEO Sonia Kastner said. The cameras help detect fires quicker and get teams on the ground faster, shaving up to two hours off response times. German startup OroraTech analyzes satellite images with artificial intelligence. "There are algorithms on the satellite, very efficient ones to detect fires even faster," CEO Thomas Gruebler said.

Persons: Phillip SeLegue, SeLegue, It's, “ They’re, Sonia Kastner, ” Kastner, ”, Larry Bekkedahl, Bekkedahl, “, ” Bekkedahl, Juan Lavista Ferres, Ferres, “ It’s, OroraTech, Thomas Gruebler, Gruebler, Barbara Ortutay Organizations: Firefighters, Microsoft, California Department of Forestry, Portland General Electric, PGE, AP Technology Locations: Maui, San Diego, Francisco, Oregon, Canada, Munich, Chile, Alberta, San Francisco

☆ How California is using AI to snuff out wildfires before they explode
▼ + stars: | 2023-09-23 | by ( Stephanie Elam | ) edition.cnn.com time to read: +6 min

The California Department of Forestry and Fire Protection says it has a new tool to battle wildfires before they explode – artificial intelligence. “I think it is a game changer … It has enhanced our abilities to validate situational awareness and then respond in a quick fashion,” Phillip SeLegue, Cal Fire’s staff chief for fire intelligence, told CNN. Cal Fire, in partnership with the University of California at San Diego’s Alert California program and its network of more than 1,000 cameras across the state, is using the technology to spot fires early. Stephanie Elam/CNNCal Fire staff chief for fire intelligence Phillip SeLegue stands on a lookout tower in San Diego County. At Boucher Hill lookout tower in San Diego County, volunteer Bill Angel of the Forest Fire Lookout Association is in his second season of keeping an eye out for wildfires.

Persons: ” Phillip SeLegue, Cal Fire’s, ”, Scott Slumpff, ” Slumpff, “, SeLegue, Dean Veik, Cal Fire, Stephanie Elam, Phillip SeLegue, Brian Norton, ” Norton, Bill Angel, Boucher, ” SeLegue Organizations: CNN — Firefighters, California Department of Forestry, Cal, CNN, Cleveland National Forest, intel, Cal Fire, University of California, Alert, UC San Diego Alert, CNN Cal Fire, Lookout Association, Association Locations: California, San Diego County, Alert California, Boucher

Danil Shamkin | Nurphoto | Getty ImagesU.S. Sen. Bob Menendez of New Jersey and his wife were indicted in New York on federal bribery charges for accepting cash, gold bars, home mortgage payments and more as part of "corrupt relationship" with three businessmen from their home state. "This investigation is very much ongoing," said Manhattan U.S. Attorney Damian Williams at a press conference on the indictment of the senator and his wife, Nadine Menendez. Source: SDNYThis is the second time Menendez has been indicted on federal bribery charges. U.S. Senate Foreign Relations Committee Chairman Bob Menendez, D-N.J., and his wife, Nadine Arslanian, arrive for a reception honoring Greek Prime Minister Kyriakos Mitsotakis and his wife, Mareva Mitsotakis, in the East Room of the White House in Washington, D.C., May 16, 2022. Those efforts allegedly included the senator recommending to Biden that he nominate a candidate for U.S. Attorney for New Jersey "who Menendez believed could be influenced by Menendez with respect to Daibes's case," the indictment charges.

Persons: Sen, Robert Menendez, Nikos Christodoulides, Danil, . Sen, Bob Menendez, Menendez, Joe Biden, Damian Williams, Nadine Menendez, Bob Menendez's, Wael Hana, Jose Uribe, Fred Daibes, Nadine, NADINE MENENDEZ’s, Salomon Melgen, Melgen, Nadine Arslanian, Kyriakos Mitsotakis, Mareva Mitsotakis, Chip Somodevilla, Hana, Uribe, Biden, Phillip Sellinger, Sellinger, David Schertler, Ms, Daibes, Nadine Menendez's Organizations: Nurphoto, Getty, ., Bob Menendez of New, Government, U.S Department of Agriculture, Democratic, Attorney, Manhattan U.S, Foreign, NBC News, U.S, Senate Foreign Relations, Greek, White, Washington , D.C, WNBC Locations: Republic of Cyprus, Nicosia, Cyprus, Bob Menendez of, Bob Menendez of New Jersey, New York, Egypt, New Jersey, Manhattan, Florida, Washington ,

☆ U.S. revives Cold War submarine spy program to counter China
▼ + stars: | 2023-09-21 | by ( ) www.reuters.com time to read: +21 min

The original network of fixed spy cables, which lie in secret locations on the ocean floor, was designed to spy on Soviet submarines seven decades ago, the three people said. China, meanwhile, is working on its own maritime spy program, known as the Great Underwater Wall, two U.S. Navy sources told Reuters. Sense of urgencyAmerica’s underwater espionage program was launched in the 1950s with a submarine detection system known as the Sound Surveillance System. The U.S. Navy’s Undersea Surveillance System The United States is expanding and upgrading its anti-submarine surveillance capabilities as tensions rise with China. Japan also operates a fleet of three ocean surveillance ships, fitted with U.S. SURTASS cables, the two U.S. Navy sources said.

Persons: Captain Stephany Moore, Richard Seif, Moore, Seif, ”, Tim Hawkins, Mariana Trench, Brent Sadler, We're, Sadler, ” Jon Nelson, Phillip Sawyer, Sawyer, United States –, SOSUS, SubCom, Stephen Askins, Lockheed Martin, Chuck Fralick, Leidos, ” Fralick, Hawkins, Richard Jenkins, Saildrone, Joe Brock, Mohammad Kawoosa, Simon Scarr, Edgar Su, Catherine Tai Design, Eve Watling, Marla Dickerson Organizations: U.S . Navy, Navy, Undersea Surveillance Command, Undersea Surveillance, United, Submarine Force U.S . Pacific Fleet, Reuters, U.S . 5th Fleet, U.S, Pacific, China Academy of Sciences, China’s Ministry of Defense, Foreign, China Naval, U.S . Naval Forces Korea, The Heritage Foundation, Department of Defense, Naval Air Station Whidbey, Processing, Undersea, Undersea Warfare, Naval Postgraduate School, Taiwan, Ships, Titan, Navy’s, CS, U.S . Department of Defense, Lockheed, U.S . State Department, An Australian Defense, Self, Defense Force, Leidos Locations: Seattle, U.S, Whidbey, China, Taiwan, Beijing, United States, Australia, Pacific, South China, Mariana, Yap, Federated States, Micronesia, Guam, Russian, Ukraine, Washington . U.S, Washington, Soviet Union, Washington State, Virginia Beach , Virginia, Monterey , California, Japan, India, States, London, Taiwan Strait, Virginia, San Francisco

☆ Microsoft's Xbox plans revealed in emails tied to FTC case
▼ + stars: | 2023-09-19 | by ( Kevin Collier | ) www.cnbc.com time to read: +2 min

An attorney with the Federal Trade Commission (FTC) carries an XBOX game console box following a hearing at the Phillip Burton Federal Building and U.S. A huge collection of purported Xbox files related to the Federal Trade Commission's case against Microsoft have been published online, spilling some of the company's plans for the gaming console into public view. They include more than 100 documents, many of them partially redacted, related to Microsoft's Xbox plans. The files include emails from corporate executives like Microsoft Gaming CEO Phil Spencer and timetables for gaming releases. Some of the documents include Microsoft Gaming senior employees discussing the value of the exclusive hold they have on key video game titles.

Persons: Phillip Burton, Douglas Farrar, Phil Spencer, It's Organizations: Federal Trade Commission, Phillip Burton Federal Building, Federal Trade, Microsoft, U.S, Northern, Northern District of, Activision Blizzard, NBC News, Microsoft Gaming, Sony, Elder Locations: San Francisco , California, Northern District, Northern District of California

☆ Fashion Designer Phillip Lim Lists Soho Loft for $8.5 Million
▼ + stars: | 2023-09-18 | by ( Sarah Paynter | ) www.wsj.com time to read: 1 min

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/real-estate/luxury-homes/fashion-designer-phillip-lim-lists-soho-loft-for-8-5-million-27a4aa65

Persons: Dow Jones, phillip, lim

(AP) — Harrison Mevis kicked a 61-yard field goal with no time remaining Saturday, sending Missouri to a field-storming, come-from-behind 30-27 victory over No. Political Cartoons View All 1163 ImagesBen Sinnott added 78 yards receiving and two of the TD catches for Kansas State. Cook answered with a 47-yard touchdown heave to Burden, who spent most of the game making the Kansas State secondary look silly. And after Howard threw a pick into tight coverage, Mevis' field goal gave Missouri the lead. The Tigers tacked on a field goal early in the fourth quarter, but only after squandering a first-and-goal opportunity.

Persons: — Harrison Mevis, Brady Cook, huddling, Eli Drinkwitz, Cook, Luther Burden III, Will Howard, Ben Sinnott, Howard, JC Carlies, Phillip Brooks, Rather, Chris Tennant, Sinnott, squandering, — Cody Schrader's, Burden, St . Louis Organizations: COLUMBIA, Kansas State, The Tigers, Tigers, Wildcats, The Wildcats, SEC, Missouri, Wildcat, Kansas, Georgia, NEXT Kansas State, Big, Central Florida, Memphis, AP Locations: Mo, Missouri, Kansas, St .

GAINESVILLE, Fla. (AP) — Trevor Etienne ran for a career-high 172 yards and a touchdown, Montrell Johnson scored twice and Florida upset No. 11 Tennessee 29-16 on Saturday night to extend the Volunteers’ losing streak in Gainesville to 10. Graham Mertz and Florida were much more comfortable in front of 90,751, the 12th-largest crowd at Florida Field. THE TAKEAWAYTennessee: The Volunteers outgained Florida 393-349 in yards, but Milton threw an interception in the first half and never found a rhythm. Florida: The Gators have rebounded nicely from an error-filled opener at then-No.

Persons: — Trevor Etienne, Montrell Johnson, Graham Mertz, Omari Thomas, Tennessee's Kamal Hadden, Florida's Micah Mazzccua, Mazzccua, Florida's Damieon George, Thomas, Josh Heupel, Billy Napier, Napier, Phillip Fulmer, Lane Kiffin, Derek Dooley, Butch Jones, Jeremy Pruitt, FanDuel, —, Joe Milton, Tennessee’s, Scooby Williams, Jaylen Wright, Milton, Mertz, Etienne, Johnson, Kurott Garland, offsides, Tre Wilson, Mertz’s, Adam Mihalek, Mihalek, Trey Smack, Charlotte Organizations: Volunteers, Florida, Tennessee, LSU, Florida State, Gators, Vols, McNeese, East Division, Associated, NEXT, University of Texas, San Antonio, UTSA, AP Locations: GAINESVILLE, Fla, Florida, Tennessee, Gainesville, Georgia, Knoxville, Utah, San

☆ Formula 1 Keeps Adding Races
▼ + stars: | 2023-09-15 | by ( Phillip Horton | ) www.nytimes.com time to read: 1 min

There are more Formula 1 races than ever, and next season there will be even more, with 24 races, the most in the sport’s history. This year’s Formula 1 schedule, at 23 events, should have set the record, but the Emilia Romagna Grand Prix was canceled because of the extreme rainfall that devastated the region. Also returning to the calendar is the Chinese Grand Prix, which was last held at the Shanghai International Circuit in 2019. Formula 1 and the Chinese race’s promoter have a contract through 2025, and next year’s Grand Prix will be on April 21, the season’s fifth race. “Now there’s a lot of people really into racing and Formula 1 who can’t wait to go back there — also myself — for the Grand Prix,” said Zhou Guanyu of China, who drives for Alfa Romeo.

Persons: Emilia, —, ”, Zhou Guanyu, Alfa Romeo Organizations: Grand Prix, Imola, Shanghai, Circuit, Alfa Locations: Grand, Italy, China

Brent crude futures rose 36 cents, or 0.4%, to $92.24 a barrel at 0300 GMT. Elsewhere, the Organization of the Petroleum Exporting Countries (OPEC) on Tuesday retained its forecasts for robust growth in global oil demand in 2023 and 2024. "The oil market looks decidedly tight over the next two to three quarters as supply constraints persist amid robust demand," said analysts at ANZ Research. U.S. crude inventories rose by 4 million barrels last week, confounding analysts' expectations in a Reuters poll for a 1.9 million-barrel drop. Higher interest rates increase borrowing costs for businesses and consumers, which could slow economic growth and reduce oil demand.

Persons: Priyanka Sachdeva, Phillip Nova, refiners, buoying, Arathy Somasekhar, Leslie Adler Organizations: Kyodo, REUTERS Acquire, Rights, Brent, . West Texas, International Energy Agency, Organization of, Petroleum, ANZ Research, Reserve, Thomson Locations: Idemitsu, Ichihara, Tokyo, Japan, Rights SINGAPORE, Saudi Arabia, Houston, Singapore

☆ Oil hits 2023 highs on tight supply outlook
▼ + stars: | 2023-09-14 | by ( ) www.cnbc.com time to read: +2 min

The tightening oil balance will remain the dominant price driver for the rest of 2023, he added. Both benchmarks had slipped on Wednesday after a U.S. supply report showing rising crude and refined product stocks. Priyanka Sachdeva, senior market analyst at Phillip Nova, said supply fears are underpinning oil prices as producers "adamantly stick to restricted production". A day before the IEA report, the Organization of the Petroleum Exporting Countries (OPEC) issued updated forecasts of solid demand and also pointed to a 2023 supply deficit if production cuts are maintained. "The oil market looks decidedly tight over the next two to three quarters as supply constraints persist amid robust demand," ANZ Research analysts said.

Persons: Tamas Varga, Brent, Priyanka Sachdeva, Phillip Nova Organizations: Oil, Brent, International Energy Agency, . West Texas, Organization of, Petroleum, ANZ Research, European Central Bank, Reuters, ECB Locations: Cromarty Firth, Invergordon, Scotland, Saudi Arabia, U.S

☆ Australian players have to get used to neck protectors, Inglis says
▼ + stars: | 2023-09-14 | by ( ) www.reuters.com time to read: +2 min

PRETORIA, Sept 14 (Reuters) - Australia’s wicketkeeper-batsman Josh Inglis says he will have no problem wearing a neck protector on his helmet from next month despite not using them previously. Governing body Cricket Australia (CA) announced on Thursday that all their players will have to wear neck protectors on helmets when facing fast or medium pace bowling from October. Inglis said he would have to get used to a piece of equipment he had previously disliked. CA had recommended the use of neck protectors since the death of Phillip Hughes in 2014 but a number of top batsmen, including David Warner and Steve Smith, have resisted wearing them. CA's Head of Cricket Operations & Scheduling Peter Roach said in a statement earlier that protecting the head and neck was extremely important.

Persons: Josh Inglis, Inglis, I'm, ”, Phillip Hughes, David Warner, Steve Smith, CA's, Peter Roach, Roach, Cameron Green, Green, Mitchell Marsh, Mark Gleeson, Toby Davis Organizations: Cricket Australia, South, of Cricket Operations, Thomson Locations: PRETORIA, South Africa, Pretoria, Australia, Cape Town

☆ Why we’re still learning new things about the JFK assassination
▼ + stars: | 2023-09-13 | by ( Zachary B. Wolf | ) edition.cnn.com time to read: +9 min

According to the Warren Commission, the intact bullet was discovered when it was knocked onto the floor next to a stretcher holding Connally. There are differing positions on what to make of Landis’ memoirJefferson Morley edits a substack newsletter, JFK Facts, that pushes for more transparency in the official record on the Kennedy assassination. Farris Rookstool III is a former FBI analyst who reviewed Kennedy assassination documents. They’ve got the Warren Commission report, which most people now feel was incomplete and rushed. And he made an important point that extends well beyond the Kennedy assassination.

Persons: CNN —, John F, Kennedy, Paul Landis, Jacqueline Kennedy, “, Landis, John Connally, Connally, CNN’s, Jake Tapper ”, ” Landis, Tapper, I’ve, Jefferson Morley, “ Landis, ” Morley, Abby Phillip, Farris Rookstool, Lee Harvey Oswald’s, ” Rookstool, Phillip, They’ve, Warren, Oswald, Trump, Joe Biden, ”, Philip Shenon, Larry Sabato, – Sabato, don’t, That’s, Lyndon B, Johnson, Sabato, ” Sabato, they’ve Organizations: CNN, Secret Service, Texas Gov, Warren Commission, Parkland Memorial Hospital, Secret, JFK, FBI, Texas, National Archives, CIA, Congress, Defense Department, Department of State, American, Biden, Trump, Security, University of Virginia, Cuban, Warren, CBS Locations: Parkland, Warren, Cuban, Mexico, Soviet, Vietnam, Iran, Afghanistan, Iraq

☆ Gasoline fuels US consumer inflation; underlying trend still improving
▼ + stars: | 2023-09-13 | by ( Lucia Mutikani | ) www.reuters.com time to read: +5 min

The consumer price index increased by 0.6% last month, the largest gain since June 2022. Gasoline prices, which jumped 10.6% after rising 0.2% in July, accounted for more than half of the increase in the CPI last month. While that marked the second straight month of a pick-up in annual inflation, year-on-year consumer prices have come down from a peak of 9.1% in June 2022. The so-called core CPI had increased 0.2% for two consecutive months. In the 12 months through August, the core CPI increased 4.3%.

Persons: bode, Phillip Neuhart, Chris Zaccarelli, Lucia Mutikani, Chizu Nomiyama, Andrea Ricci Organizations: Federal Reserve, Labor Department, First Citizens Bank, U.S . Energy Information Administration, Treasury, Independent, Reuters, Reuters Graphics Financial, Labor Department's Bureau of Labor Statistics, United Auto Workers, General Motors, Ford Motor, Thomson Locations: WASHINGTON, New York, U.S, Charlotte , North Carolina

☆ Matt Gaetz says he's going to try to oust Kevin McCarthy from the speakership 'every single day'
▼ + stars: | 2023-09-13 | by ( John L. Dorman | ) www.businessinsider.com time to read: +3 min

Matt Gaetz is threatening Kevin McCarthy with motion to vacate votes for the House speakership. Gaetz on Tuesday remarked that McCarthy wasn't pursuing conservative reforms as he had promised. I don't anticipate them passing immediately," Gaetz told reporters of potential votes for McCarthy's ouster. And during a Tuesday evening appearance on CNN, Gaetz reiterated his calls for motion to vacate votes against McCarthy absent conservative reforms that the congressman has sought. "The motion to vacate question is a hypothetical one that's not before us," the New York Democrat told reporters on Tuesday.

Persons: Matt Gaetz, Kevin McCarthy, Gaetz, McCarthy, Hakeem Jeffries, Matt Gaetz hasn't, Joe Biden, Abby Phillip, pare, Phillip, We've Organizations: Service, California Republican, Florida Republican, CNN, of Education, Department of Labor, New York Democrat Locations: Wall, Silicon, Florida

Japanese yen and U.S. dollar banknotes are seen with a currency exchange rate graph in this illustration picture taken June 16, 2022. The greenback tumbled ahead of U.S. inflation data due on Wednesday, with traders on the lookout for whether the world's largest economy is indeed on track for a "soft landing", and whether the Federal Reserve has further to go in raising rates. "It seems that Ueda's comments were intended to stop the yen's slide against the dollar," said Takehiko Masuzawa, trading head at Phillip Securities Japan. DOLLAR SLIDEThe dollar index , which measures the U.S. currency against peers including the yen, was last down 0.26% to 104.59, near an almost one-week low. It was last nearly 0.8% higher at 7.2895 per dollar, while its offshore counterpart similarly was up about 0.9% to 7.3003 per dollar.

Persons: Florence Lo, Kazuo Ueda stoked, Ueda, Takehiko, Francesco Pesole, Matt Simpson, Rae Wee, Junko Fujita, Joice Alves, Jason Neely Organizations: U.S, REUTERS, Rights, Bank of Japan, Federal Reserve, Yomiuri, Phillip Securities Japan, Treasury, ING, Aussie, New Zealand, Thomson Locations: Rights SINGAPORE, LONDON, Japan, United States, Singapore, Tokyo, London

Japanese yen and U.S. dollar banknotes are seen with a currency exchange rate graph in this illustration picture taken June 16, 2022. "It seems that Ueda's comments were intended to stop the yen's slide against the dollar," said Takehiko Masuzawa, trading head at Phillip Securities Japan. Christopher Wong, a currency strategist at OCBC, attributed the dollar's slide to traders "lightening up" on their long dollar positions ahead of the data. Against the weaker U.S. dollar, the Aussie and the New Zealand dollar were among the biggest beneficiaries, each rising more than 0.5%. The Australian dollar was last 0.6% higher at $0.64165, while the kiwi gained 0.52% to $0.5914.

Persons: Florence Lo, Kazuo Ueda stoked, Ueda, Takehiko, Sterling, Christopher Wong, Alvin Tan, Matt Simpson, Rae Wee, Junko Fujita, Sam Holmes, Christopher Cushing Organizations: U.S, REUTERS, Rights, Bank of Japan, Yomiuri, Federal Reserve, Phillip Securities Japan, British, Fed, Treasury, Asia FX, RBC Capital Markets, Index, Aussie, New Zealand, Thomson Locations: Rights SINGAPORE, Japan, Asia, United States, U.S, Singapore, Tokyo

Pump jacks operate at sunset in an oil field in Midland, Texas U.S. August 22, 2018. A bigger-than-expected draw in U.S. crude oil inventories lent muted support to oil prices. Crude inventories fell by 6.3 million barrels, triple the 2.1 million-barrel drop that analysts expected. Despite its pledge to maintain supply cuts, Russia is expected to boost its oil exports in September as Russian refineries start seasonal maintenance, Reuters calculations based on sources' data show, which is also curbing price gains. Reporting by Yuka Obayashi and Muyu Xu; Editing by Jamie Freed and Miral FahmyOur Standards: The Thomson Reuters Trust Principles.

Persons: Nick Oxford, Brent, Priyanka Sachdeva, Phillip Nova, Tatsufumi Okoshi, WTI, Yuka Obayashi, Muyu Xu, Jamie Freed, Miral Organizations: Midland , Texas U.S, REUTERS, Rights, U.S, West Texas, Investors, Nomura Securities, Energy, Thomson Locations: Midland , Texas, Rights TOKYO, SINGAPORE, Saudi Arabia, Russia, China

☆ Biden will nominate a former Obama official to run the Federal Aviation Administration
▼ + stars: | 2023-09-07 | by ( ) www.cnbc.com time to read: +2 min

President Joe Biden will nominate a former Obama administration official to lead the Federal Aviation Administration after his first choice withdrew in the face of Republican opposition nearly six months ago. The FAA, which regulates airline safety and manages the nation's airspace, has been run by back-to-back acting administrators since March 2022. Whitaker was deputy FAA administrator – a job that does not require Senate approval – from 2013 to 2016. Last year, Biden nominated Denver International Airport CEO Phillip Washington, but he withdrew in March after his nomination stalled in the Senate Commerce Committee. Republicans and independent Kyrsten Sinema argued that Washington lacked adequate aviation experience — his background is mostly in city transit systems, having held the Denver airport job only since mid-2021.

Persons: Michael G, Whitaker, Joe Biden, Obama, Biden, Phillip Washington, Kyrsten Sinema Organizations: UAL Corp, Transportation, Aviation, United, European, Federal Aviation Administration, FAA, Hyundai, TWA, American Airlines, United Airlines, Denver International Airport, Senate, Washington Locations: United States, Washington ,, InterGlobe, India, Denver

President Joe Biden will nominate a former Obama administration official to lead the Federal Aviation Administration after his first choice withdrew March after running into opposition from Republican senators. Whitaker's nomination had been expected for months, and Biden's announcement was praised by several industry and labor groups. The FAA, which regulates airline safety and manages the nation's airspace, has been run by back-to-back acting administrators since March 2022. The first, Billy Nolen, who left FAA in June to join another air taxi company, Archer Aviation, praised Whitaker's nomination in a recent interview. Sara Nelson, president of the Association of Flight Attendants, urged the Senate to confirm Biden’s pick quickly.

Persons: Joe Biden, Obama, Biden, Michael G, Whitaker, Phillip Washington, Kyrsten Sinema, Sen, Ted Cruz, Biden's, Mike, ” Cruz, Stephen Dickson, Donald Trump, Billy Nolen, “, ”, ” Nicholas Calio, Sara Nelson, “ Whitaker Organizations: Federal Aviation Administration, Republican, FAA, Hyundai, TWA, American Airlines, United Airlines, Denver International Airport, Senate, Washington, GOP, Archer Aviation, Airlines for, Association of Flight Locations: InterGlobe, India, United States, Denver, Ted Cruz of Texas, Airlines for America

☆ What’s going on with China’s shadow banking system?
▼ + stars: | 2023-09-06 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +7 min

The world’s second-largest economy is grappling with growing financial distress, which means big problems for the nation’s nearly $3 trillion shadow banking industry. What’s happening: Shadow lenders, including trust firms, operate outside of the formal banking system. That’s because shadow banks are not just a problem in China. The key concern, said Towes, is whether Western organizations have loaned to shadow banks and are now vulnerable. Production cuts by OPEC+, which produces 40% of the world’s crude oil, have helped send oil prices higher in recent months, a development that could have repercussions for inflation and interest rates.

Persons: they’ve, ”, Phillip Toews, “ we’ve, Toews, that’s, Goldman Sachs, Matt Egan, That’s, It’s, “, Jan Hatzius, ” Hatzius, —, CNN’s Hanna Ziady, Brent, ” Stephen Innes Organizations: CNN Business, Bell, New York CNN, Asset Management, US, IMF, Global, Federal Reserve, West Texas, Organization of, Petroleum, Saudi Ministry of Energy Locations: New York, China, Beijing, Europe, Saudi Arabia, Russia, OPEC

The offers speak to the unusual nature of the business dispute between Disney and Charter Communications, and doesn't auger a quick resolution. Charter is telling its Spectrum TV customers about a special deal being offered by the Fubo live television streaming service to get two months at discounts of 25% or 30%, depending on the plan. Political Cartoons View All 1145 ImagesDisney, meanwhile, is also offering upset Spectrum customers online links to sign up for other services, like Hulu, Fubo, Sling and YouTubeTV. The business battle resulted in ESPN, ABC, FX, National Geographic and Disney-branded stations going abruptly dark on Thursday night for Charter’s Spectrum TV subscribers. “Could this end up being a watershed event for the linear TV business that also blows up the entire sports media ecosystem?"

Persons: ”, Phillip Swann, Disney, Rich Greenfield, Greenfield Organizations: ESPN, The Walt Disney Co, Disney, Charter Communications, ABC, Geographic, Charter’s Spectrum, Lightshed Partners Locations: Hulu, New York, Chicago, Los Angeles

☆ A severe drought is affecting the Panama Canal. That’s not a good sign for supply chains — or your holiday shopping
▼ + stars: | 2023-08-26 | by ( Alicia Wallace | ) edition.cnn.com time to read: +8 min

Just this week, the Panama Canal Authority extended those restrictions for at least another 10 months. Next shoe to dropBut from a transportation standpoint beyond Panama, the next shoe to drop could be the Mississippi River, Davis said. During the past 30 days, rainfall along the southern Mississippi River has been well below normal. And when you have two disruptions versus just one, that is magnified overall.”Holiday shopping hang-upsFor now, general waiting times have spiked at the Panama Canal. Supply chain shiftsHad this occurred before the pandemic lockdowns and the drastic swings in consumer spending patterns that mangled supply chains, it might have been a different story.

Persons: sandstorm, ”, Janelle Griffith, Marsh, Jon Davis, El, “, Davis, Evelyn Hockstein, Everstream, Ahmad Hassan, hasn’t, “ We’ve, ” Phillip Sanfield, Amanda Kwan, hadn’t, ” Kwan, plumb, Taylor Swift, Kamala Raman, you’ve, Peter Sand, Sand Organizations: Minneapolis CNN —, Panama Canal Authority, Getty, CNN, Port, Port Authority of New, National Retail Federation Locations: Minneapolis, Minneapolis CNN — Panama, Panama, Mississippi, Suez, North American, El, Central America, Grand Tower , Illinois, New Orleans, United States, Europe, Egyptian, Ismailiya, AFP, Panama Canal, Los Angeles, Port of Los Angeles, New York, Port Authority of New York, New Jersey, “

☆ Singapore's Grab says its ride-hailing unit is on track to hit pre-Covid levels by the end of the year
▼ + stars: | 2023-08-24 | by ( Sheila Chiang | ) www.cnbc.com time to read: +4 min

Photographer: Ore Huiying/Bloomberg via Getty Images Ore Huiying | Bloomberg | Getty ImagesSingapore-based Grab said on Wednesday that its ride-hailing unit is on track to hit pre-Covid levels by the end of this year. Grab, which also offers food delivery and mobile payments, said that its mobility GMV has recovered to 85% of pre-Covid levels. We remain on track to exit 2023 at pre-Covid GMV levels. "We remain on track to exit 2023 at pre-Covid GMV levels," Oey said during Grab's earnings call on Wednesday. Grab's Hungate said driver supply levels are currently at 84% of pre-Covid levels and that the firm will "continue to focus on improving driver supply."

Persons: Alex Hungate, Peter Oey, Oey, GrabShare, Sachin Mittal, Grab's Hungate, Kai Wang, Jonathan Woo, Woo Organizations: Grab Holdings, Bloomberg, Getty, Getty Images, CNBC, DBS Bank, DBS, Trans, Morningstar Asia, Revenue, Phillip Securities Research Locations: Singapore, Getty Images Singapore, Malaysia, Thailand, Grab's U.S

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