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☆ Xi Jinping is caught in a bind: How do I undermine US power while also courting its investors?
▼ + stars: | 2024-03-28 | by ( Tom Porter | ) www.businessinsider.com time to read: +5 min

But Xi is also trying to dent US global power on several fronts. AdvertisementChina's President Xi Jinping presented an uncharacteristically affable image Wednesday, smiling broadly for US business leaders at a meeting in Beijing. The Chinese leader sought to assure investors including Cristiano Amon of Qualcomm and Stephen Schwarzman of the Blackstone Group that the downturn in China's economy, its biggest contraction in 15 years, would be over soon. AdvertisementOn the one hand, Xi is seeking to implement China's long-term strategy of displacing the US as the world's pre-eminent power. China's economy, after decades of growth, is experiencing its most serious problems in decades.

Persons: Xi Jinping, He's, Xi, —, Cristiano Amon, Stephen Schwarzman, Jonathan Ward, Ali Wyne, Joe Biden, Robert Daly, Wilson Organizations: Service, Qualcomm, Blackstone Group, United, Communist Party, US Navy, Taiwan, Wilson Center, CBS, International Crisis Group, Institute, NPR, US Locations: Beijing, China, Xinhua, United States, Ukraine, Russia, Taiwan, Iran, North Korea

Marilyn Lands, a Democrat, won a special election Tuesday for a State House seat in Alabama after campaigning on access to abortion and in vitro fertilization, underscoring the continued political potency of reproductive rights. Ms. Lands defeated her Republican opponent, Teddy Powell, by about 25 percentage points — an extraordinary margin in a swing district where she lost by seven points in 2022. The special election was called when David Cole, the Republican who had held the seat, resigned and pleaded guilty to voter fraud. “Today, Alabama women and families sent a clear message that will be heard in Montgomery and across the nation,” Ms. Lands, a licensed counselor, said Tuesday night. And last month, the Alabama Supreme Court ruled that frozen embryos were people with rights — upending I.V.F.

Persons: Marilyn Lands, Teddy Powell, David Cole, ”, Roe, Wade, — upending, Kay Ivey, Powell, Heather Williams, ” Ms, Williams, Biden’s, Donald J, Trump, Mr, Julie Chavez Rodriguez Organizations: Democrat, House, Lands, Republican, Republicans, Alabama Legislature, Democratic Legislative, Committee, “ Locations: Alabama, Montgomery, “

☆ Ukraine is in a race to stop Russia's mounting glide-bomb attacks
▼ + stars: | 2024-03-27 | by ( Jake Epstein | ) www.businessinsider.com time to read: +11 min

Short flight times, small radar signatures, and non-ballistic trajectories make glide bombs particularly difficult to intercept as well. "When the Ukrainian air-defense bandwidth is all tied up, they then move in with the fixed-wing aircraft to conduct these glide-bomb attacks," he said. This includes the 1,100-pound FAB-500, 3,300-pound FAB-1500, and 6,600-pound FAB-3000 bombs — all of which can be modified and turned into glide bombs. "That makes the mission planning for attacks with standoff weapons that can hit fixed targets, like the glide bombs, quite practical," he explained. And it won't be entirely the fault of glide bombs — Kyiv needs all the tools its forces can get right now.

Persons: —, George Barros, Scott Peterson, they've, Alexander Ermochenko, Barros, Assad, Ivan Gavrylyuk, Justin Bronk, Su, ALEXANDER NEMENOV, Bronk, Volodymyr Zelenskyy, Alina Smutko, Ukraine doesn't Organizations: Service, Business, Institute for, REUTERS, Ukrainian, Ukrainian Armed Forces General Staff, Handout, Royal United Services Institute, Victory Day, Getty, Archer Artillery, Roman, Getty Images, Patriot, Infantry Brigade, Armed Forces Locations: Russia, Moscow, Ukraine, Russian, Petropavlivka, Avdiivka, Ukraine's Donetsk, Ukrainian, Kharkiv, AFP, Donetsk

☆ China’s Xi meets American CEOs to boost confidence in world’s second largest economy
▼ + stars: | 2024-03-27 | by ( Laura He | Wayne Chang | ) edition.cnn.com time to read: +3 min

Foreign direct investment in China has slumped in recent months as a combination of slower growth, regulatory crackdowns, onerous national security legislation and questions about the country’s long-term growth prospects have shaken confidence in the world’s second biggest economy. But global investors remain wary of China’s rising scrutiny of Western companies as well as a structural slowdown. In the first two months of 2024, foreign direct investment (FDI) into the country shrank nearly 20% from a year ago, underscoring weak confidence among global executives. Another gauge of FDI — direct investment liabilities — showed a 82% slump in 2023, according to figures released by the State Administration of Foreign Exchange. China has set this year’s economic growth target at around 5%, the same as last year’s.

Persons: Xi Jinping, Cristiano Amon, Raj Subramaniam, Stephen Schwarzman Organizations: Taipei CNN, Qualcomm, FedEx, Blackstone, of, International Monetary Fund, World Bank, China Development, Commerce Ministry, State Administration of Foreign Exchange, American Chamber of Commerce Locations: China, Hong Kong, Taipei, Beijing, United States

☆ Op-ed: The effusive China tour is a failing playbook for Apple, Tim Cook, and every CEO
▼ + stars: | 2024-03-27 | by ( Dewardric L. Mcneal | ) www.cnbc.com time to read: +8 min

This ritual, epitomized by high-profile engagements — such as Apple CEO Tim Cook's effusive overtures and statements of commitments to China — signals that American corporate titans think the strategy can still work. Tim Cook's narrative of China as "critical" to Apple , coupled with his admiration for the country's advanced manufacturing capabilities, embodies the ethos of this engagement playbook. Apple's Chief Executive Officer Tim Cook attends the China Development Forum in Beijing on March 24, 2024. It's not that the Apple CEO is doing anything wrong. Chinese Apple superfans jostled to enter the smartphone maker's newest store as it opened on March 21 night.

Persons: Tim Cook's, Tim Cook, Pedro Pardo, Jim McNerney, Xi Jinping's, Mark Zuckerberg, Deirdre O'Brien, Strstr, Xi, Xi Jinping, Li Qiang Organizations: Apple, American, titans, U.S, Apple's, China Development Forum, AFP, Getty, Boeing, Airbus, Volkswagen, Qualcomm, Google, Facebook, Huawei, Afp Locations: China, Beijing, Weibo, Shanghai

☆ Dasu dam: Chinese workers killed in suicide bomb blast as Pakistan grapples with attacks on Beijing’s interests
▼ + stars: | 2024-03-27 | by ( Sophia Saifi | Nectar Gan | ) edition.cnn.com time to read: +4 min

Pakistani Prime Minister Shehbaz Sharif offered condolences for the death of the Chinese nationals during a visit Tuesday to the Chinese Embassy in Islamabad, where he met with Beijing’s ambassador. The blast Tuesday follows two militant attacks in recent days in southwest Pakistan, where China is investing billions in infrastructure projects. Half a year later, a separatist group attacked a luxury hotel in Gwadar, often used by Chinese nationals working at the port. In August last year, BLA militants opened fire on a Pakistani military convoy in Gwadar as it was escorting a delegation of Chinese nationals to a construction project. Two militants were killed and no harm was caused to any military personnel or civilians, according to the Pakistani military.

Persons: Muhammad Ali Gandapur, Xi, Tuesday’s, Shehbaz Sharif, Ishaq Dar, ”, “ Organizations: Islamabad CNN —, Beijing . Senior, Taliban, Foreign Ministry, Embassy, Beijing’s, Baloch Liberation, Pakistan Economic, Pakistan Stock Exchange Locations: Islamabad, Pakistan, Khyber Pakhtunkhwa, China, Afghanistan, restive, Balochistan, Gwadar, Beijing, Xinjiang, Karachi

☆ Reddit investors shrug off hold rating, bid up stock another 15% as post-IPO rally continues
▼ + stars: | 2024-03-26 | by ( Jonathan Vanian | In | ) www.cnbc.com time to read: +5 min

Reddit's post-IPO rally continues, despite the company receiving a hold rating from a prominent analyst. Investors continue to rally behind Reddit despite New Street Research issuing a neutral rating on the company "after the stock goes to the moon," analysts wrote in a note that was published Tuesday. Investors expect such a deal "to be added soon," considering OpenAI CEO Sam Altman maintains a 9% stake in Reddit. It also recently entered into an expanded partnership with Google, allowing the search giant to access more Reddit data to train its AI models. Meanwhile, some Reddit users took to the company's various finance-related subreddits on Tuesday to discuss the company's rising shares since its IPO.

Persons: Steve Huffman, Sam Altman, Altman, Condé Nast, Reddit, Reddit's, I've, I'd, Dash Organizations: New York Stock Exchange, New, Research, Investors, Advance Magazine Publishers, Google, Federal Trade Commission, FTC, GameStop, Nasdaq, Trump Media & Technology Group Locations: New York City, Reddit's, Reddit, pontificating

☆ The last time Trump took a ‘DJT’ business public, it ended up in bankruptcy
▼ + stars: | 2024-03-25 | by ( Allison Morrow | David Goldman | ) edition.cnn.com time to read: +4 min

New York CNN —Starting Tuesday, there’s a new company on the Nasdaq: Trump Media & Technology Group, which will trade under the stock ticker DJT. The social media app was never a blockbuster, though, and it’s unclear how the company will ever make money. While Trump Media may be new, its stock ticker is a throwback to Trump’s only other publicly traded company. Trump bestowed the same initials on his Atlantic City casino business, Trump Hotels and Casino Resorts, back when that company went public in 1995. Trump Media generated just $3.4 million of revenue through the first nine months of last year, according to SEC filings.

Persons: there’s, Donald John Trump, we’ve, Trump, “, ” Trump, ”, Jonathan Macey, Matt Egan, he’s, CNN’s Matt Egan Organizations: New, New York CNN, Nasdaq, Trump Media & Technology Group, Republican, Capitol, Trump Media, Atlantic City, Trump Hotels, Casino Resorts, Mahal, New York Times, Trump Entertainment Resorts, SEC, Twitter, Trump Locations: New York, ” Yale

☆ Reddit pops 48% in NYSE debut after selling shares at top of range
▼ + stars: | 2024-03-21 | by ( Jonathan Vanian | In | ) www.cnbc.com time to read: +5 min

Reddit shares jumped 48% in their debut on Thursday in the first initial public offering for a major social media company since Pinterest hit the market in 2019. Reddit and selling shareholders raised about $750 million from the offering, with the company collecting about $519 million. This year, Reddit said it plans to recognize roughly $66.4 million in revenue as part of its data licensing deals. Google has also entered into an expanded partnership with Reddit, allowing the search giant to obtain more access to Reddit data to train AI models and improve its products. "I hope they believe in Reddit and support Reddit," Huffman told CNBC in an interview on Thursday.

Persons: Steve Huffman, Lynn Martin, Reddit, Pinterest, Klaviyo, Pinterest's, it's, Alexis Ohanian, Huffman, Redditors, Sam Altman, Condé Nast, Altman's, Altman Organizations: New York Stock Exchange, Astera Labs, Nasdaq, Meta, Google, Reddit, Federal Trade Commission, FTC, Companies, CNBC, GameStop, Tencent, Advance Magazine Publishers Locations: New York, It's, Reddit

☆ Goldman Sachs issued these 12 talking points for managers amid criticisms that it's bleeding women leaders. See the full memo here.
▼ + stars: | 2024-03-20 | by ( Reed Alexander | ) www.businessinsider.com time to read: +9 min

Horwitz's March 13 memo was sent to all partners, managing directors, and vice presidents in response to a recent Wall Street Journal story. Women exits at GoldmanThe story comes amid a recent spate of departures of high-profile female executives at Goldman. Other women partners who have left include Katie Koch, a former top executive in asset management; Heather Miner, ex-global head of investor relations; and Jennifer Davis, a former head of retail investment banking. We are very fortunate to have extraordinary female partners that continue to increase in numbers. Our longer term success depends significantly on developing female partners in senior roles."

Persons: Goldman Sachs, Russell Horwitz, hasn't, Horwitz, David Solomon's, Horwitz —, Goldman, Marc Nachmann, Stephanie Cohen, BI's Bianca Chan, Beth Hammack, Cohen, Hammack, Alison, —, Solomon, Katie Koch, Heather Miner, Jennifer Davis, Horowitz, Russell W, David, we've Organizations: Business, Horwitz's, Goldman, Firm, Women, Media Relations

☆ US Army instructors say Ukrainian soldiers were 'amazing' at mastering the Patriots they've used to shoot down Putin's overhyped missiles
▼ + stars: | 2024-03-15 | by ( Jake Epstein | ) www.businessinsider.com time to read: +7 min

Ukrainian soldiers spent 10 weeks learning to use the US military's Patriot air-defense system. Business Insider recently visited Fort Sill, Oklahoma, where Patriot training took place last year, and spoke with two US Army instructors who were involved in the program. They described the Ukrainian soldiers as "awesome" students and "amazing" learners with a lot of drive to learn how to operate the system. AdvertisementFILE - Patriot missile launchers acquired from the U.S. last year are seen deployed in Warsaw, Poland, on Feb. 6, 2023. AdvertisementA Patriot missile is fired during a training exercise at the Black Sea training range in Capu Midia, Constanta, Romania, on Nov. 15, 2023.

Persons: —, Michal Dyjuk, Kevin McConkey, Ukraine —, McConkey, Sean Gallup, Austin Christie, Christie, George Calin Still, Vladimir Putin, Alexander Zemlianichenko, Volodymyr Zelenskyy, Zelenskyy Organizations: US, Patriot, US Army, Fort Sill, Service, Business, Army, U.S, AP, Getty, Ukrainian, Russian Air Force, Pentagon Locations: Ukraine, Fort Sill , Oklahoma, Fort Sill, Warsaw, Poland, Rzeszow Jasionska, Midia, Constanta, Romania, Moscow, Alexander Zemlianichenko Russia, Kyiv, Ukrainian, Germany, Netherlands

☆ Mitch McConnell ramps up his criticism of Chuck Schumer in CNN interview
▼ + stars: | 2024-03-15 | by ( Manu Raju | Ted | ) edition.cnn.com time to read: +4 min

In an interview with CNN, McConnell said Schumer’s speech was a direct contradiction of US policy and called on the White House not to go down that road. McConnell rejected calls for conditions on military aid to Israel – something some Democrats have called for in an effort to tamp down civilian deaths. In his speech, Schumer explained his deep misgivings about the toll on innocent people in Gaza. “I am anguished that the Israeli war campaign has killed so many innocent Palestinians,” he said. McConnell blamed the Biden administration for micromanaging the war in Gaza and said Schumer’s calling for “regime change” in the wrong country.

Persons: Mitch McConnell ramped, Chuck Schumer, Israel –, McConnell, can’t, ” McConnell, “ It’s, Schumer, Benjamin Netanyahu, Netanyahu, ” Schumer, –, that’s, ”, “, “ I’m, Biden, “ They’ve, Yair Lapid, ” CNN’s Morgan Rimmer Organizations: CNN, Capitol, Democratic, Israel Locations: Israel, Gaza, “, Iran

☆ These 7 portfolio stocks boosted their dividends this year, with more likely on the way
▼ + stars: | 2024-03-15 | by ( Kevin Stankiewicz | ) www.cnbc.com time to read: +6 min

The hikes also sweeten the potential total return for their stocks at a time when some Wall Street strategists are shining a light on that performance metric. That performance metric captures not just stock price moves but also gains from reinvested dividends. The difference between stock price performance and total return can be substantial, underscoring the benefits of reinvesting dividends. Consider that over the past 10 years, Linde's stock price has climbed 260%, according to FactSet. Eaton's stock price has climbed 321% over the past decade while its total return is 462%.

Persons: Savita Subramanian, Jim Cramer's, Eli Lilly, Linde, Stanley Black, Decker, Jim Cramer, Jim, Spencer Platt Organizations: Disney, TJX Companies, . Eaton Corp, Linde, DuPont de Nemours, Coterra, Procter, Gamble, Bank of America, Meta, Alto Networks, Bausch Health, Abbott Laboratories, Broadcom, Costco Wholesale, Ford Motor, Nvidia, Apple, Costco, Jim Cramer's Charitable, CNBC, New York Stock Exchange, Getty Locations: Cincinnati, New York City

☆ Dollar General forecasts upbeat 2024 sales on steady demand, shares up
▼ + stars: | 2024-03-14 | by ( ) www.cnbc.com time to read: +2 min

Dollar General forecast annual sales above Wall Street estimates on Thursday, banking on more inflation-affected customers buying its cheaper groceries and essentials and sending its shares surging more than 6% premarket. With consumers preferring to cook more meals at home amid higher prices and borrowing costs, Dollar General has seen more shoppers visiting its outlets to browse for lower-margin, needs-based goods, over pricier general merchandise. The retailer also posted holiday-quarter net sales of $9.86 billion for the fourth quarter, above analysts' average estimate of $9.78 billion. However, like rival Dollar Tree , Dollar General also projected annual profit below estimates, underscoring margin pressures from higher costs linked to its supply chain, labor and raw materials. It expects 2024 profit between $6.80 and $7.55 per share, compared with an estimate of $7.55 per share.

Persons: Todd Vasos Organizations: Dollar, Walmart

☆ House expected to vote on bill that could ban TikTok amid Trump resistance
▼ + stars: | 2024-03-13 | by ( Clare Foran | Brian Fung | ) edition.cnn.com time to read: +5 min

The House is expected to vote Wednesday on a bill that could lead to a nationwide ban against TikTok, a major challenge to one of the world’s most popular social media apps. Lawmakers on both sides of the aisle who support the bill have argued that it is not a ban. In recent comments to reporters, Wisconsin Republican Rep. Mike Gallagher, who chairs a House select committee on China, rejected characterizations of the bill as a TikTok ban. “This legislation has a predetermined outcome: a total ban of TikTok in the United States,” the company wrote in a post on X. Senate Majority Leader Chuck Schumer on Tuesday would not commit to holding a vote on the House’s TikTok bill, underscoring the uncertainty over what will happen if the House passes the bill as expected.

Persons: Donald Trump, equivocated, TikTok, It’s, Joe Biden, Trump, Mark Zuckerberg, ” Trump, “, Mike Gallagher, “ It’s, ”, Shou Chew, Chuck Schumer, CNN’s Kate Sullivan, Morgan Rimmer, Lauren Fox Organizations: TikTok, ByteDance, Apple, Google, House Energy, Commerce Committee, Facebook, CNBC, Lawmakers, Wisconsin Republican, Chinese Communist Party Locations: China, Beijing, Washington, United States

☆ Japan averts technical recession as revised fourth-quarter data shows economy grew 0.4%
▼ + stars: | 2024-03-11 | by ( Clement Tan | In Clemtan | ) www.cnbc.com time to read: +1 min

Japan averted a technical recession as revised official data on Monday showed the economy returned to growth in the the October-December period last year. Japan's gross domestic product expanded 0.4% in the fourth quarter compared with a year earlier. Provisional data last month had showed GDP contracting 0.4%. The Japanese economy also expanded 0.1% in the fourth quarter from the previous three months, compared with the provisional data that showed a 0.1% contraction. The economy had shrunk 0.8% in the third quarter from the previous three months.

Persons: Kazuo Ueda Organizations: Provisional, Bank of Japan, Ministry of Finance, Reuters, Bank of Locations: Japan, Bank of Japan

☆ AI is not ready for primetime
▼ + stars: | 2024-03-10 | by ( Samantha Murphy Kelly | ) edition.cnn.com time to read: +7 min

Generative AI tools, including ChatGPT, have been alleged to violate copyright. That’s not stopping Big Tech companies and AI firms, which continue to hook consumers and businesses on new features and capabilities. “Access to major generative AI systems in widespread use is controlled by a few companies,” said Venkatasubramanian, noting that these systems easily make errors and can produce damaging content. He believes bolder reforms may be necessary too, such as taxing AI companies to fund social safety nets. For now, current day generative AI users must understand the limitations and challenges of using products that are still quite far from where they need to be.

Persons: ”, Taylor Swift, Joe Biden, Mandel Ngan, That’s, OpenAI, Elon Musk, Elon Musk Gonzalo Fuentes, ” Suresh Venkatasubramanian, Venkatasubramanian, ” Arvind Narayanan, CNN he’s, Narayanan, “, ChatGPT, Bard –, haven’t, ” Gemini, Brian Fung Organizations: CNN, Chamber, Getty, Big Tech, Microsoft, Google, Reuters, Brown University, “, White, Office of Science, Technology, Management, Executive, Princeton, “ Tech Locations: Washington ,, AFP, New Hampshire

Chinese Foreign Minister Wang Yi in 2019. Mark Kauzlarich | ReutersBEIJING — China's top diplomat slammed the U.S. for worsening bilateral tensions, while reiterating Beijing's support for peaceful resolutions to the Israel-Palestine and Russia-Ukraine conflicts. Wang said the U.S. has been devising "new ways to suppress China," saying U.S. accusations against China had reached an "unbelievable degree." While he said he sees a way forward for both countries, Wang said communication between both countries may only continue by respecting and recognizing differences. After the unexplained dismissal of Qin Gang as foreign minister in July last year, Wang reassumed the role.

Persons: Wang Yi, Mark Kauzlarich, Joe Biden's, Biden, Joe Biden, Xi Jinping, Wang, Qin, Wang reassumed, hasn't, Xi's, Lai Ching Organizations: Reuters, Reuters BEIJING —, China -, CNBC, Communist Party of, Qin Gang, United Nations, Democratic Progressive Party Locations: Reuters BEIJING, Israel, Palestine, Russia, Ukraine, China, China - U.S, San Francisco, South China, U.S, Gaza, Beijing, Taiwan, South

☆ China may have to resort to a tried-and-tested tactic to power its 'new leap forward'
▼ + stars: | 2024-03-06 | by ( Clement Tan | In Clemtan | ) www.cnbc.com time to read: +5 min

Liu Liqun | Corbis Documentary | Getty ImagesChina may want a "new leap forward" in "productive forces" — but President Xi Jinping may need to resort to an old tactic to hit the country's ambitious growth target this year, one economist warns. While scant on specifics, the work report appears to suggest Beijing is refraining from the aggressive, bazooka-like stimulus that some markets observers were expecting. China has historically resorted to infrastructure building as a short-term fix to boost growth, particularly after the 2008-09 financial crisis. Goldman Sachs economists said that this pledge is the "most important positive surprise" from this year's government work report. Chinese Premier Li Qiang delivers a speech during the opening of the second session of the 14th National People's Congress at The Great Hall of People on March 5, 2024 in Beijing, China.

Persons: Liu Liqun, Xi Jinping, Wang Dan, Wang, Erica Tan, Goldman Sachs, Li Qiang, Li, Lintao Zhang Organizations: Bund, Getty, Hang Seng Bank, CNBC, China Investment Corporation, Maybank, Seng Bank, National People's Congress, of People Locations: China, Beijing, overcapacity, Covid, Gorges

☆ Retailers turn to an unlikely source to boost profits. Walmart shows how powerful this lever could be
▼ + stars: | 2024-03-05 | by ( Alex Harring | ) www.cnbc.com time to read: +9 min

There are three main routes through which retailers like Walmart benefit from advertising, Tarlowe said. The focus in retail advertising once transitioned from in-store to retailer websites with the e-commerce boom, Gutman said. Walmart: The pack leader With the deal, Walmart appears ahead of the retail pack, Gutman said. Connected TV is also just one part of a broader tide-change that's bolstering optimism on the stock, analysts told CNBC Pro. Other retail ideas Beyond Walmart, analysts said retailers need size and scale to perform well within off-site advertising.

Persons: Jefferies, Corey Tarlowe, Tarlowe, Morgan Stanley, Matt, Simeon Gutman, Gutman, it's, Roku, FactSet, Warren Buffett, Franklin Templeton, Dan Niles Organizations: Walmart, Intelligence, Retailers, Albertsons, CNBC, P Retail, Costco, Target, FactSet, TGT, Nvidia, & & , & & () Locations: Arkansas, Vizio

☆ Alabama Democrats Swarm to a Rare Chance to Increase Their Power
▼ + stars: | 2024-03-04 | by ( Emily Cochrane | ) www.nytimes.com time to read: 1 min

When the U.S. Supreme Court rejected Alabama’s congressional map last year as an illegal dilution of Black voting power, the decision set in motion a heated redistricting battle. Now, voters on Tuesday will head to the polls for the first time in a newly reshaped Second Congressional District, which was redrawn to give Black voters a fair opportunity to elect a representative of their choice. The shake-up has drawn a field of nearly two dozen candidates, underscoring the rare political opportunity on offer: a primary without an incumbent, and because Black voters historically favor Democrats, a suddenly competitive race in ruby-red Alabama.

Organizations: U.S, Supreme, Congressional, Black Locations: Alabama

☆ Woman Could Have Prevented Great Recession; Ignored by Wall Street Men
▼ + stars: | 2024-03-04 | by ( Josie Cox | ) www.businessinsider.com time to read: +21 min

The story of Brooksley Born is not only the tale of a remarkable regulator whose Cassandra-like warnings — if heeded — could've prevented the great financial crisis from exploding into raging, ruinous enormity. Not long after she assumed chairmanship of the CFTC, Born started to feel a lingering unease with the rapidly expanding derivatives market. So to Rubin, Born was more of an inconvenience than anything, and she certainly wasn't in his club. Not long after, Treasury officials lobbied Congress to pass legislation preventing the CFTC from being able to regulate the OTC derivatives market. In the months and years that followed, it became increasingly hard to deny that the multi-trillion-dollar OTC derivatives market was the root cause of the great financial crisis.

Persons: Lehman Brothers, jolting, — could've, It's, Potter Stewart, Henry Edgerton, Porter, she'd, Bill Clinton, Clinton, Janet Reno, Brooksley, Michael Greenberger, Born, Gibson, weren't, Robert Rubin, Goldman Sachs, Rubin, Michael Hirsh, Alan Greenspan, Greenspan, Ayn Rand, Hirsh ., Hirsh, Greenspan didn't, braggadocian machismo, lauding Rubin, Lawrence Summers, Arthur Levitt, Josie Cox, Levitt, Summers, Jim Leach, Richard Lugar, —, Bethany McLean, Joe Nocera, Bob Rubin, Born's Cassandra, George W, Bush, Lauren Rivera, Christine Lagarde, Lehman, ABRAMS Organizations: Stanford University, Stanford Law School, Stanford, Appeals, District of Columbia Circuit, Arnold, Futures Trading Commission, American, CFTC, Bankers Trust, Procter, Gamble, Sumitomo, Federal Reserve, Fed, Securities and Exchange Commission, Financial Markets, Abrams, Term Capital Management, Enron, SEC, Born, Northwestern's Kellogg School of Management, Financial, International Monetary Fund, Lehman Brothers, Reuters, Street, The Washington Post, Guardian, Abrams Press Locations: California, Vietnam, United States, Washington, America, ABRAMS , New York

☆ A defining week set to lay bare the choice in the 2024 election
▼ + stars: | 2024-03-04 | by ( Stephen Collinson | ) edition.cnn.com time to read: +11 min

But Trump and Biden’s turns in the spotlight this week will highlight their all-but-certain rematch, barring health crises or other surprise events. November’s election is already heaping pressure on political and electoral institutions, the Constitution and America’s fragile national unity. The move further delayed the ex-president’s federal criminal trial over election interference, which Trump – who is seeking to push off his trials past the 2024 election – touted as a win. Ahead of a likely general election clash, Trump’s appetite for testing the rule of law and the Constitution is undimmed. While leaders of both congressional chambers have reached a bipartisan spending deal, the tiny GOP House majority means any piece of legislation is a heavy lift.

Persons: Donald Trump, Joe Biden, Trump, Biden’s, Biden, Trump’s, he’s, Sen, Bernie Sanders, Nikki Haley, ”, . South Dakota Sen, John Thune, Mitch McConnell, he’ll, Haley, “, GOP Sen, Markwayne Mullin, CNN’s Dana, there’s, wilder, “ Biden, White, –, Mike Johnson Organizations: CNN, GOP, Colorado Supreme, Supreme, Super, Democratic, Trump, South Carolina Gov, Capitol, Republican, “, Oklahoma, Biden, American, The New York Times, Siena College, Times, Street Journal, Hamas, MAGA ” Republicans Locations: Idaho, Missouri, Washington ,, . South Dakota, South Carolina, “ State, Greensboro , North Carolina, United States of America, Ukraine, Israel, Gaza, Michigan

☆ Majority of Biden’s 2020 Voters Now Say He’s Too Old to Be Effective
▼ + stars: | 2024-03-03 | by ( Lisa Lerer | Ruth Igielnik | ) www.nytimes.com time to read: +1 min

Widespread concerns about President Biden’s age pose a deepening threat to his re-election bid, with a majority of voters who supported him in 2020 now saying he is too old to lead the country effectively, according to a new poll by The New York Times and Siena College. The survey pointed to a fundamental shift in how voters who backed Mr. Biden four years ago have come to see him. A striking 61 percent said they thought he was “just too old” to be an effective president. The misgivings about Mr. Biden’s age cut across generations, gender, race and education, underscoring the president’s failure to dispel both concerns within his own party and Republican attacks painting him as senile. Seventy-three percent of all registered voters said he was too old to be effective, and 45 percent expressed a belief that he could not do the job.

Persons: Biden’s, Biden Organizations: The New York Times, Siena College, Mr

☆ A single orca killed a great white shark in a shocking 2 minutes. This hunting behavior could mean problems for the fishing industry and tourism.
▼ + stars: | 2024-03-02 | by ( Kelsey Vlamis | ) www.businessinsider.com time to read: +3 min

Read previewResearchers observed a single killer whale slaying a great white shark and eating its liver, providing new insights about the hunting practice that could foreshadow potential problems for the fishing industry. AdvertisementStarboard has been observed killing white sharks in the past however, he usually hunts with a male companion named Port. The orcas have been hunting white sharks and eating their livers off the coast of South Africa for years. Rare drone footage captured for Discovery Channel's Shark Week in 2022 showed killer whales preying on a white shark. But scientists still don't know exactly where those white sharks are going.

Persons: —, Port, Alison Towner, Towner, I've, Primo Micarelli, I'm Organizations: Service, of Marine Science, Business, Rhodes University, CNN, Earth, African Locations: South Africa

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