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☆ Bangkok Bank executive discusses the country's need for economic restructuring
▼ + stars: | 2024-11-27 | 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 EmailBangkok Bank executive discusses the country's need for economic restructuringKobsak Pootrakool, Senior Executive Vice President at Bangkok Bank and a former Minister in Thailand, comments on the country's need to pivot for further economic growth.

Organizations: Bangkok Bank Locations: Thailand

☆ Biden's last-minute missile moves for Ukraine are coming far too late, weakening their effect on the Russians
▼ + stars: | 2024-11-27 | by ( Sinéad Baker | ) www.businessinsider.com time to read: +7 min

It's been a truism that Ukraine has needed the capability to strike the Russian rear for many years at this point." Related storiesA pattern of late aidThe US and other allies have been repeatedly criticized for slowness and hesitancy in giving Ukraine aid and permissions. One American fighting in Ukraine told BI, "It feels like everything that we've been getting has been either too late or it's just enough to barely hold on." AdvertisementA US Army Tactical Missile System (ATACMS) firing a missile into the East Sea during a South Korea-US joint missile drill. Savill said of Biden's missile decision that "the impact may be more political, albeit with a narrowing window of opportunity."

Persons: Joe Biden, Donald Trump, George Barros, It's, Lockheed Martin, Matthew Savill, Michael Bohnert, ISW, we've, Volodymyr Zelenskyy, There's, Barros, Putin, Bohnert, counterattacking, Savill, Ukraine Biden, Trump Organizations: MGM, Tactical Missile Systems, Lockheed, Storm, UK Ministry of Defence, Royal United Services Institute, Russian Defense Ministry Press Service, AP, Biden, Politico, Reuters, RAND Corporation, NATO, Army Tactical Missile, Korean Defense Ministry, Getty, Ukraine, Trump Locations: Ukraine, Russia, Russian, Kursk —, Ukrainian, Kursk, Russia's Kursk, South Korea

☆ There is no such thing as an all-America car. That’s why tariff will raise car prices.
▼ + stars: | 2024-11-27 | by ( Chris Isidore | ) edition.cnn.com time to read: +10 min

The US government tracks what percentage of each car’s parts is made “domestically.” But under current trade law, both Canadian-made parts and US-made parts are counted as the same domestic content. “Yes, it’s America’s truck, assembled in America, but not with American parts,” Ivan Drury, director of insights for Edmunds, told CNN. Domestic parts could be tough to findFinding domestic supplies for many of the imported car parts would be difficult. Even if an American parts supply could be found, in most cases it would be more expensive. Fewer imported cars would raise all pricesTariffs on imported vehicles likely would also lead to higher prices on cars that are assembled here, since it would limit the supply of vehicles in the US market.

Persons: Donald Trump, Trump, aren’t, Bill Clinton, Bill Pugliano, Honda, “, it’s, ” Ivan Drury, Edmunds, Jeff Schuster, GlobalData, ”, Drury, “ You’re Organizations: New, New York CNN, GM, Ford, Jeep, Dodge, Chrysler, Toyota, Honda, Tesla, Hyundai, Kia, Nissan, Mazda, Subaru, CNN, Chevrolet Blazer, Chevrolet Silverado Locations: New York, Mexico, Canada, American, United States, China, Lincoln , Alabama, Dearborn , Michigan, Michigan, Missouri, America, Saltillo , Mexico

☆ Trump sprints through transition as he faces narrow window to act in office
▼ + stars: | 2024-11-27 | by ( Steve Contorno | Aaron Pellish | ) edition.cnn.com time to read: +10 min

On Tuesday, Trump’s transition team signed an agreement with the White House after months of postponing the traditional transition process – a delay that Biden officials warned could undermine an orderly transfer of power and pose national security risks. In a statement announcing the agreement, the Trump transition said it will use its own security and information systems, its own office spaces and maintain its own ethics plan. The transition team said its ethics plan will be posted online in compliance with federal law. Several of Trump’s picks have vast personal fortunes and deep ties to the private sector. Trump’s transition team has so far relied instead on internal vetting.

Persons: Donald Trump’s, Trump, –, Matt Gaetz, Department of Justice – Trump, Pam Bondi, Joe Biden, ”, Brian Ballard, “, ” Ballard, Gaetz, Pete Hegseth, Linda McMahon, Hegseth, McMahon, Howard Lutnick, Scott Bessent, – Lutnick, Florida Sen, Marco Rubio, Tulsi Gabbard, Robert F, Kennedy Jr, Kennedy, – Mehmet Oz, Janette Nesheiwat, Marty Makary, Sen, Markwayne Mullin, he’s, ” Sen, Peter Welch, Karoline Leavitt, Trump’s, untangle, Donald Trump Jr, Eric Trump, Bill Hagerty, Nick Iarossi —, —, ” Iarossi, CNN’s Betsy Klein, Lauren Fox Organizations: CNN, Trump, Republican, Washington, Florida Rep, Department of Justice, Sunshine, Republicans, Mar, GOP, Senate, Senate Republicans, Fox News, Department of Education, Department of Commerce, Bessent, Hawaii Rep, Medicare, Drug Administration, Oklahoma Republican, Vermont Democrat, America, White, Biden, General Services Administration, FBI, Gabbard, – Locations: Manhattan, Palm Beach, New York, Washington ,, Washington, Trump, Ukraine, Oklahoma, Vermont, Mexico, Canada, China, Florida

☆ Elon Musk just deepened his rivalry with Sam Altman
▼ + stars: | 2024-11-27 | by ( Alex Bitter | ) www.businessinsider.com time to read: +2 min

AdvertisementElon Musk's xAI is reportedly close to unveiling a chatbot app similar to OpenAI's ChatGPT. Elon Musk's xAI is reportedly planning an app that could expand its chatbot's reach to a much wider audience and take on ChatGPT. xAI could release the chatbot app as soon as December, The Wall Street Journal reported on Wednesday. The app, if it materializes, would be another sign that xAI and Musk are trying to take on ChatGPT-maker OpenAI. A chatbot app would be its first product offered directly to consumers.

Persons: xAI, OpenAI, Elon Musk's xAI, Sam Altman, Musk Organizations: Elon, Street Journal, Street, Business, Twitter, Financial Times

☆ Maye Musk welcomes Elon's bromance with Donald Trump and says they 'just seem to be having fun'
▼ + stars: | 2024-11-27 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +3 min

Elon Musk and the president-elect are having "a lot of fun," she said. Maye Musk called her son "the genius of the world" and backed him to slash government waste. Elon Musk and Donald Trump are two of the world's wealthiest and most powerful men. Musk's mother, Maye, commented on their budding bromance in an interview on Fox Business this week: "They just seem to be having fun, a lot of fun, and that's nice for both of them to have fun." However, the negative comments are very… pic.twitter.com/lWLiG1mqfs — Maye Musk (@mayemusk) November 4, 2024Many mothers champion their children and sing their praises, and Maye is no exception.

Persons: Donald Trump, Elon Musk, Maye Musk, Musk, Maye, Elon, dietitian, she's Organizations: Fox, Elon, Trump, White House, Fox Business, SpaceX, Bloomberg, Trump's, USA Locations: America, New York, Lago, Florida, Texas

☆ European markets set for a shaky start amid Trump tariff threat
▼ + stars: | 2024-11-27 | by ( Holly Ellyatt | ) www.cnbc.com time to read: +1 min

European markets are heading for a mixed open Wednesday as investors continued to assess the potential impact of President-elect Donald Trump's plans to hike tariffs. Economists have warned of the potential inflationary impact of Trump's fiscal plan, which could see the U.S. Federal Reserve cutting interest rates at a slower pace. Overnight, Asia-Pacific markets were mixed Wednesday, following gains on Wall Street that saw the S&P 500 and the Dow Jones Industrial Average reach new intraday and closing records. U.S. stock futures were little changed on Wednesday morning as traders await the release of the Fed's favorite inflation gauge: the personal consumption expenditures price index. Earnings are set to come from Easyjet and data releases include German and French consumer confidence.

Persons: Donald Trump's, Germany's DAX, Trump Organizations: France's CAC, IG, U.S . Federal Reserve, Dow Jones Locations: Mexico, Canada, Asia, Pacific

☆ Major currencies consolidate as market regroups ahead of US inflation measure
▼ + stars: | 2024-11-27 | by ( ) www.cnbc.com time to read: +3 min

The New Zealand dollar rose after the Reserve Bank of New Zealand cut benchmark rates by 50 basis points to 4.25% while noting that inflation had declined to near the mid-point of its targeted range. "This uncertainty can lead markets to 'sell first and ask questions later' which is a positive for the USD." The Australian dollar was mostly flat at $0.64755 after domestic consumer price inflation stayed at a three-year low in October. In cryptocurrencies, bitcoin was trading at $91,795, keeping well below the record high of $99,830 it touched last week. It has climbed more than 40% since the U.S. election on expectations Trump will loosen the regulatory environment for cryptocurrencies.

Persons: Donald Trump's, Trump's, Trump, Carol Kong, Joe Biden, Scott Bessent, bitcoin, Bitcoin Organizations: U.S, New Zealand, Reserve Bank of New, jittery, Commonwealth Bank of Australia, Canadian, Treasury, Trump Locations: Reserve Bank of New Zealand, Canada, Mexico, China, United States, U.S, Israel, Iran, France, Israeli, Trump's

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Persons: Ana Luisa Ana Luisa, They're, Ana Luisa, Ana Luisa's, you'll, Mejuri Mejuri, Luna, it's, you've, that’s, Diamond Organizations: Business, Studs, Luna Black

☆ Samsung Electronics appoints co-CEO in leadership shuffle focused on chip divisions; shares drop
▼ + stars: | 2024-11-27 | by ( Lee Ying Shan | In Ying-Shan-Lee | ) www.cnbc.com time to read: +2 min

Samsung Electronics on Wednesday announced changes in the leadership of its memory and foundry chip divisions, as the company faces intense competition in the semiconductor space. The South Korean tech giant appointed Jun Young-hyun as co-CEO and head of the memory chip arm, while Han Jin-man will become the president and head of the company's foundry business. Samsung Electronics was once the leading force in the memory chip sector, and appeared well-positioned to take advantage of the boom in artificial intelligence. Last month, Jun, who has been overseeing the semiconductor division since May, issued a rare apology after the company posted disappointing third-quarter profit guidance. Samsung's chip business posted a sharply lower third-quarter profit compared to the previous quarter.

Persons: Jun Young, Han Jin, Nam Seok Woo, Samsung Organizations: Samsung Electronics, South, Samsung, SK Hynix, Nvidia, Citi, Device Solutions

CNN —The ceasefire agreement between Israel and Hezbollah is a major diplomatic breakthrough that follows 13 months of escalating conflict, upheaval and displacement in Lebanon. In that time, troops from both sides will retreat from southern Lebanon, while the Lebanese military and families who fled in recent months will move in. Israel’s forces must retreat beyond the so-called Blue Line, a “line of withdrawal” established by the UN in 2000 following 18 years of Israeli military occupation in southern Lebanon. Israeli aerial attacks have focused on the southern border regions of Lebanon, but have hit targets in the center and the north as well. Planet Labs PBC Planet Labs PBC Dozens of buildings were destroyed in Meiss al-Jabal, visible in satellite imagery provided by Planet Labs.

Persons: Israel, Benjamin Netanyahu Organizations: CNN, Lebanese, UN Security, UN, Planet Labs PBC Planet, Planet Labs, Planet Labs PBC Locations: Israel, Lebanon, Meiss al, Beirut

☆ Early retirement comes as a surprise for many workers, study finds. Here's how to manage that financial shock
▼ + stars: | 2024-11-27 | by ( Lorie Konish | ) www.cnbc.com time to read: +2 min

If those new retirees take Social Security benefits before their full retirement age — which is 66 to 67, depending on date of birth — they take permanently reduced benefits. The median age for claiming Social Security benefits is 64, according to EBRI. They may lose five years of income, assuming they intended to retire at their full retirement age of 67, Collinson said. They may also lose potential employer-sponsored retirement benefits and additional credits towards their Social Security work history. Reset financial goals after an early retirementPeople who are forced into early retirement may not have a lot of financial flexibility.

Persons: Catherine Collinson, Collinson, They're, Ted Jenkin, Jenkin Organizations: Transamerica Institute, Transamerica Center, Retirement Studies, Social, Social Security, CNBC FA Council Locations: Atlanta

☆ Fossilized poop reveals secrets of how dinosaurs came to dominate Earth
▼ + stars: | 2024-11-27 | by ( Katie Hunt | ) edition.cnn.com time to read: +8 min

To better understand the extinct giants, Qvarnström and his colleagues investigated overlooked fossils known as bromalites: remnants from the digestive system — aka dinosaur poop and vomit. The analysis, which took 10 years to complete, allowed the team to piece together why dinosaurs came to prominence. Information from fossilized poop helped researchers to understand how dinosaurs rose to prominence 200 million years ago. Grzegorz NiedzwiedzkiReconstructing dinosaurs’ riseThe authors came up with five phases to explain dinosaurs’ ascendancy: Their ancestors were omnivorous, eating plants and animals. The supremacy of the dinosaurs endured until an asteroid that struck off the coast of what’s now Mexico 66 million years ago doomed the dinosaurs to extinction.

Persons: ”, Martin Qvarnström, ” Qvarnström, —, Grzegorz Niedzwiedzki, Lawrence H, Tanner, ” Tanner, Grzegorz, Qvarnström, Grzegorz Niedźwiedzki Organizations: CNN, Uppsala University, Synchrotron Radiation, Le Moyne Locations: Sweden, Polish, Poland, Sołtyków, Grenoble, France, New York, what’s, Mexico, Uppsala’s

☆ Ina Garten is the queen of easy Thanksgiving. Here are 9 recipes we think should be on your menu this year.
▼ + stars: | 2024-11-27 | by ( Rachel Askinasi | Anneta Konstantinides | ) www.businessinsider.com time to read: 1 min

AdvertisementWe love making Ina Garten's recipes, especially when it comes to the holidays. And we've tested many appetizers, side dishes, and mains that would be perfect for Thanksgiving. Here are Garten's best holiday recipes, from corn bread and mac and cheese to turkey and potato gratin. Ina Garten is the queen of holiday hosting, and we think some of her recipes are worthy of a spot on your Thanksgiving table. But when it comes to which dishes to include in your holiday feast, we think these nine recipes should make the cut.

Persons: Ina Garten's, Ina Garten Locations: Gaziantep, Turkey

☆ VP Bank's Asia CIO explains why he's more optimistic on U.S. mid-caps
▼ + stars: | 2024-11-27 | 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 EmailVP Bank's Asia CIO explains why he's more optimistic on U.S. mid-capsThomas Rupf, Asia chief investment officer at VP Bank, discusses the outlook for the U.S. market and why mid-caps are the "sweeter spot."

Persons: Thomas Rupf Organizations: U.S, VP Bank Locations: Asia

☆ This personal finance educator says budgeting is ‘toxic’ — try ‘intuitive’ spending instead
▼ + stars: | 2024-11-27 | by ( Sawdah Bhaimiya | ) www.cnbc.com time to read: +3 min

You're going to feel that shame because you're not reaching those sorts of arbitrary goals that are being set." Try 'intuitive' spending insteadAccording to Miranda, the toxicity of budgeting stems from a capitalistic culture geared toward making more money and accumulating assets, rather than focusing on the quality of life of individuals. Instead of scrimping and saving your money, Miranda recommended "conscious spending," as an alternative. "It's like an intuitive or mindful approach to spending and using their money." "As long as we understand how our debt products work and the consequences of different decisions that we make around debt."

Persons: Dana Miranda, Miranda, Sheida Isabel Elmi, it's Organizations: CNBC, Research, University of Minnesota, Aspen Institute Financial Security

☆ Lawsuit alleges that young dancers for Shen Yun Performing Arts have faced abuse
▼ + stars: | 2024-11-27 | by ( Associated Press | ) edition.cnn.com time to read: +3 min

The lawsuit said Shen Yun has made hundreds of millions of dollars by exploiting young dancers it recruits from abroad, forcing them to work grueling hours and scaring them into thinking they’d face harm if they quit. According to the website, Shen Yun, along with Fei Tian Academy of the Arts and Fei Tian College — which were also named as defendants — were founded by followers of the Falun Gong faith. After the first year, she was paid $500 a month until she “graduated” from Fei Tian College in 2019, when her salary was raised to $1,000 a month, according to the lawsuit. The lawsuit said she contracted measles when she was 14 but was not permitted to see a doctor. Instead, the lawsuit said, she was told to meditate to feel better and was required to work while she recovered.

Persons: Shen Yun, Chang Chun, Chang, Shen Yen, “ Organizations: White Plains , New York AP, Shen Yun Performing Arts, Chinese Communist Party, CCP, New York State Department of Education, New, New England Commission, Higher, Fei Tian Academy of, Arts, Fei Tian, Radio City Music Hall, Fei Tian College Locations: White Plains , New York, White Plains, Dragon Springs, Cuddebackville , New York, New England, Manhattan, United States, Taiwan

☆ Watch Wendesday's full episode of the Halftime Report — November 27, 2024
▼ + stars: | 2024-11-27 | 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 EmailWatch Wendesday's full episode of the Halftime Report — November 27, 2024"Fast Money Halftime Report" is on the front lines of CNBC's market coverage. Host CNBC's Scott Wapner and the Street's top investors get to the heart of the action as it's happening and help set the agenda for the rest of the day. Watch today's full episode on CNBC PRO.

Persons: CNBC's Scott Wapner Organizations: CNBC PRO

☆ Maybank sees Trump’s tariffs causing weaponization of currency
▼ + stars: | 2024-11-27 | 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 EmailMaybank sees Trump’s tariffs causing weaponization of currencySaktiandi Suppat, Head of Global FX Strategy of Maybank, says the effects of Trump 2.0 are kicking in earlier than expected. While the details of potential tariffs are still unclear, countries could be pushed to respond via currency measures.

Persons: Maybank, Saktiandi Organizations: Global FX, Trump

☆ Fed’s preferred inflation gauge rises to 2.3% annually, meeting expectations
▼ + stars: | 2024-11-27 | by ( Jeff Cox | ) www.cnbc.com time to read: +3 min

The personal consumption expenditures price index, a broad measure that the Fed prefers as its inflation gauge, increased 0.2% on the month and showed a 12-month inflation rate of 2.3%. Both were in line with the Dow Jones consensus forecast, though the annual rate was higher than the 2.1% level in September. The annual rate was 0.1 percentage point above the prior month. Odds of a quarter percentage point reduction in the central bank's key borrowing rate were at 66% Wednesday morning, according to the CME Group's FedWatch measure. The release follows consecutive rate cuts by the Fed in September and November totaling three quarters of a percentage point.

Persons: Dow, Stocks Organizations: Federal, Commerce Department, Dow Jones, Nasdaq, Treasury, Fed, Labor

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Persons: Ralph Lauren's, polos, Ralph Lauren Black, Ralph Lauren Polo Bear, Ralph Lauren, Ralph Lauren Polo, Ralph Lauren Ralph Lauren, Ralph Lauren Ralph Lauren Big, Lauren, Ralph Lauren Ralph Lauren Loopback Organizations: Business, Fleece Locations: polos, chinos

The White House is in touch with federal law enforcement and the President-elect’s team, and continues to monitor the situation closely. A federal law enforcement source said none of those targeted were protectees of the US Secret Service. “Anytime a Member of Congress is the victim of a ‘swatting’ incident, we work closely with our local and federal law enforcement partners. Lee Zeldin, Trump’s pick to lead the Environmental Protection Agency, posted on X about a pipe bomb threat targeting his home. “A pipe bomb threat targeting me and my family at our home today was sent in with a pro-Palestinian themed message.

Persons: Vance, Donald Trump’s, “, ‘, ” Karoline Leavitt, Trump, ”, Joe Biden, ” “, Jack Smith, Tanya Chutkan, Elise Stefanik, Lee Zeldin, Brooke Rollins Organizations: CNN, FBI, White, Service, Trump, New York, GOP, United Nations, U.S . Capitol Police, US Capitol Police, Environmental Protection Agency, Secret Service, Department of Homeland Security Locations: Saratoga County, Washington, York State, U.S

☆ Kohl's vows 'aggressive action' to reverse sliding sales following a 'frankly disappointing' quarter
▼ + stars: | 2024-11-27 | by ( Maria Noyen | ) www.businessinsider.com time to read: +3 min

Apparel and footwear sales struggled despite strong performances for Sephora and other categories. Growth in revenue from beauty sales at Sephora was one of the few rays of hope. Kohl's continues to fight an uphill battle after sales tumbled following missed opportunities, a decline in footfall, and an overreliance on its partnership with Sephora. "We are not satisfied with our performance and are taking aggressive action to reverse the sales declines," he said. Earlier this week Kohl's said Kingsbury would step down on January 15 after two years in the role.

Persons: Kohl's, Tom Kingsbury, Kingsbury, Ashley Buchanan, Kinsbury, Lexie Moreland, Claudia D'Arpizio, Bain, D'Arpizio Organizations: Sephora, WWD, Penske Media, Getty Locations: Sephora, footfall

☆ Buzzy French voice startup PyannoteAI is in talks to raise around $10 million in funding, sources say
▼ + stars: | 2024-11-27 | by ( Riddhi Kanetkar | ) www.businessinsider.com time to read: +2 min

AdvertisementPyannoteAI is in talks to raise $10 million in initial funding, sources told Business Insider. The startup's AI platform detects and identifies speakers in audio transcriptions. Voice AI is gaining traction, with startups like ElevenLabs in talks to raise significant funding. A French startup developing voice intelligence models is in talks to raise around $10 million in initial funding, Business Insider has learned from two people with knowledge of the deal. Voice-cloning startup ElevenLabs is looking to raise funding at a $3 billion valuation, Business Insider first reported.

Persons: Lizzie Widhelm, Vincent Molina, Hervé Bredin, Bredin, buzzy, Dealroom, OpenAI, ChatGPT Organizations: Business, BI Locations: France

☆ France's far right propped up the weak government. But could now bring it crashing down
▼ + stars: | 2024-11-27 | by ( Holly Ellyatt | ) www.cnbc.com time to read: +2 min

France's government is hanging by a thread with the far-right National Rally party threatening to bring down Prime Minister Michel Barnier's administration by the end of the year. "We will see if today's proposals are taken on board, but nothing is certain," Le Pen said Monday, in comments reported by the Associated Press. "We said what were the non-negotiable elements for us," Le Pen said, AP added. The original budget has now gone to the Senate for review and debate before it faces a final vote on Dec. 12. Barnier has signaled he could use special constitutional powers to circumvent a parliamentary vote and get the budget passed by presidential decree.

Persons: Michel Barnier's, Le Pen, Barnier, — Organizations: Barnier, Associated Press, AP, National Rally, Front, Senate, National Assembly

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