Iran may benefit as US-Saudi ties are tested

Saudi Arabia’s alleged involvement in the disappearance of U.S.-based journalist Jamal Khashoggi could place Riyadh’s longstanding rival Iran at an advantage. A linchpin of America’s foreign policy in the Middle East, Saudi Arabia is a crucial component of President Donald Trump’s plan to isolate Iran. The White House needs Riyadh to stabilize the energy market when U.S. sanctions on Iranian oil production take place in November. But if the U.S.-Saudi relationship turns sour over accusations that Riyadh killed Khashoggi, Trump’s strategy may not go as planned — and that could…

U.S. opposed to Koreas’ plan for no-fly zone over border: sources

SEOUL (Reuters) – The United States opposes a plan by South and North Korea to set up a no-fly zone over their heavily fortified border, the latest sign of a rift between Seoul and its top ally, two sources familiar with the matter told Reuters. A man stands near binoculars as he tries to see North Korea’s propaganda village of Gijungdong at the Dora observatory near the demilitarised zone separating the two Koreas, in Paju, South Korea, April 24, 2018. REUTERS/Kim Hong-JiWashington and Seoul both publicly insist they are on…

Huge Facebook hack wasn’t conducted by a nation-state, investigation reportedly suggests

Facebook believes that the hackers who gained access to private information of some 30 million users on the site were spammers looking to make money through deceptive advertising, the Wall Street Journal reported on Wednesday. The findings so far suggested that the hackers were not affiliated with a nation-state, the Journal said, citing sources familiar with Facebook’s internal investigation. Internal researchers believe that the people behind the attack are from a group of Facebook and Instagram spammers who present themselves as a digital marketing company, according to the WSJ. Their…

More Honduran migrants seek to join U.S.-bound group in Guatemala

CHIQUIMULA, Guatemala (Reuters) – More Honduran migrants tried to join a caravan of several thousand trekking through Guatemala on Wednesday, defying calls by authorities not to make the journey after U.S. President Donald Trump threatened to cut off regional aid in reprisal. Honduran migrants, part of a caravan trying to reach the U.S., are seen on a truck during a new leg of her travel in Zacapa, Guatemala October 17, 2018. REUTERS/Edgard GarridoThe caravan has been growing steadily since it left the violent Honduran city of San Pedro Sula on…

Late brothel owner Hof will win Nevada vote: campaign manager

(Reuters) – A brothel-owning Republican candidate for the Nevada state legislature who died this week will remain on the ballot and win his election in November, his campaign manager predicted on Wednesday. FILE PHOTO: Dennis Hof, who owned the Moonlite BunnyRanch legal brothel and was a Republican candidate for Nevada State Assembly District 36, poses outside the brothel in Mound House, Nevada, U.S. June 16, 2018. REUTERS/Steve Marcus/File PhotoDennis Hof, 72, who died on Tuesday, styled himself as America’s best-known pimp and a strip-club owner who ran multiple brothels. He…

US oil edges up after 3 percent drop on big stock build

Oil prices edged up on Thursday, steadying after a big drop overnight due to a jump in U.S. crude stockpiles and supported by ongoing tensions over the death of a prominent Saudi journalist. U.S. West Texas Intermediate crude for October delivery was up 17 cents, or 0.2 percent, at $69.92 a barrel by 0031 GMT, after falling 3 percent in the previous session to settle below $70 for the first time in a month. Front-month London Brent crude for December delivery was up 23 cents, or 0.3 percent, at $80.28,…

A pity to throw it away: insurer stores damaged art in Germany

COLOGNE, (Germany) (Reuters) – What happens to artworks which are too badly damaged to be restored once the insurer has paid out the claim? Naief Abou of German art logistics company Roggendorf Master Packer unpacks the damaged sculpture « Waescherin » by an unknown artist during a media tour in a depot of German art insurer AXA Art that stores damaged art in Cologne, Germany, October 16, 2018. REUTERS/Thilo SchmuelgenUp to 300 of them – scratched, torn or punctured works by well-known artists including Gerhard Richter, Christo and Giorgio de…

Exxon Mobil bets big on China LNG, sidesteps trade war

HOUSTON/SINGAPORE (Reuters) – In the middle of a Sino-U.S. trade war, the world’s largest publicly traded oil and gas company is turning toward Beijing for business at a time when most of Corporate America is looking elsewhere to avoid the threat of tariffs. FILE PHOTO: The ExxonMobil Hides Gas Conditioning Plant process area is seen in Papua New Guinea in this handout photo dated March 1, 2018. ExxonMobil/Handout via REUTERS/File Photo Exxon Mobil Corp is placing big bets on China’s soaring liquefied natural gas (LNG) demand, coupling multi-billion dollar production…

What the row over U.S. aid means to Central America

MEXICO CITY (Reuters) – More Honduran migrants tried to join a caravan of several thousand moving through Guatemala on Wednesday, defying calls by authorities not to make the journey after U.S. President Donald Trump threatened to cut off regional aid in reprisal. FILE PHOTO: A Honduran migrant, part of a caravan trying to reach the U.S., carries his daughter at a migrant shelter in Guatemala City, Guatemala October 17, 2018. REUTERS/Luis Echeverria/File PhotoThe caravan has grown steadily since it left the Honduran city of San Pedro Sula on Saturday. The…

Cramer Remix: I’m calling out the Fed as lazy and irresponsible

CNBC’s Jim Cramer argued on Wednesday that « mixed » economic data, coupled with more hawkish rhetoric from the Federal Reserve, were to blame for the stock market’s volatile trading session. « Remember what’s at stake here. We are now in the midst of earnings season, where we can piece together a mosaic of what’s really going on in the economy. If the economy’s fabulous, then the Fed’s current course — one rate hike in December followed by three more next year — is correct, » the « Mad Money…

Devoted Health, a start-up selling health insurance to seniors, is worth $1.8 billion

The team behind Castlight Health and Athenahealth, both public companies in health-tech, are onto their next billion-dollar venture. Devoted Health, a health insurance start-up targeting seniors, is now valued at $1.8 billion, people familiar with the matter told CNBC, after raising $300 million in fresh capital earlier this week. The sources asked not to be named because the valuation wasn’t disclosed. Todd and Ed Park, brothers and serial health-tech entrepreneurs, founded Devoted last year, jumping into the market for Medicare Advantage (MA) plans, which provide coverage for people over age…

‘After The Screaming Stops’ films reunion of 1980s band Bros

LONDON (Reuters) – Last year, 1980s British pop band Bros took to the stage for the first time in more than 25 years, since singing twins Matt and Luke Goss went their separate ways. Now a new documentary charts that reunion, an experience the brothers say brought them close together again. “After The Screaming Stops” takes a look at how the duo, who each pursued separate careers after they stopped playing together in 1992, prepared to perform in August 2017, 28 years after performing at Wembley Arena to an audience…

Cramer: Alphabet and Amazon, my largest trust holding, can still be bought after Netflix beat

CNBC’s Jim Cramer has spotted some attractive buying opportunities in FAANG — his acronym for the stocks of Facebook, Amazon, Apple, Netflix and Google, now Alphabet — after the market’s latest sell-off. « Once again, reports of FAANG’s death proved to be premature, » the « Mad Money » host said Wednesday after Netflix’s earnings beat. « And, amazingly, I think Alphabet and Amazon have both come down enough that they can be purchased at these very levels. » Shares of Amazon, the largest position in Cramer’s charitable trust, fell…

O’Rourke gets tough in U.S. Senate battle in Texas, but is it too late?

(Reuters) – It was no more Mr. Nice Guy for Beto O’Rourke. U.S. Rep. Beto O’Rourke poses for pictures after a debate with U.S. Senator Ted Cruz (not shown) at the KENS-5 Studios in San Antonio, Texas, U.S., October 16, 2018. Tom Reel/San Antonio Express-News/Pool via REUTERS Falling behind in the polls and running out of time, the Democratic contender for the U.S. Senate went on the attack against Republican incumbent Ted Cruz in a raucous debate in Texas on Tuesday night, calling him dishonest and resurrecting President Donald Trump’s…

Trump reluctant to abandon Riyadh over missing journalist, wants evidence

ANKARA/WASHINGTON (Reuters) – U.S. President Donald Trump said on Wednesday he did not want to abandon close ally Saudi Arabia over the disappearance of a Saudi journalist and government critic, and he needed to see evidence to prove Turkish claims he was killed by Saudi agents. Trump said he was waiting for a full report on what had happened to Jamal Khashoggi from Secretary of State Mike Pompeo, whom he sent to Saudi Arabia and Turkey to meet with officials over the disappearance. Turkish officials have said they believe Khashoggi,…

Beyond Meat vegan food company taps investment banks for IPO

Beyond Meat has hired investment banks for an initial public offering, people familiar with the matter tell CNBC. The plant-based food company has tapped J.P Morgan, Goldman Sachs and Credit Suisse to help lead the IPO, said the people, who asked not to be named because the talks are private. It could not be immediately determined what valuation Beyond Meat will seek in its IPO. Beyond Meat did not respond to multiple requests for comment. J.P. Morgan, Credit Suisse and Goldman Sachs declined to comment. The IPO will be the…

Spotify takes minor stake in music distributor DistroKid

NEW YORK/SAN FRANCISCO (Reuters) – Music streaming service Spotify said on Wednesday it had taken a stake in DistroKid, a distribution service that allows recording artists to upload music across online stores and streaming platforms including Spotify’s biggest rival, Apple Music. FILE PHOTO: The Spotify logo is displayed on a screen on the floor of the New York Stock Exchange (NYSE) in New York, U.S., May 3, 2018. REUTERS/Brendan McDermid/File PhotoSpotify revealed the move in a blog post but did not give a dollar amount, saying only that it was…

Brexit: UK ‘may consider longer transition period’

Theresa May is willing to consider extending the proposed 21-month transition period after Brexit to break the current deadlock over Northern Ireland, senior EU officials have said. The PCF’s Laura Kuenssberg said No 10 had refused to rule out extending it during a summit in Brussels. The PM has been addressing EU leaders in the hope of advancing the process. But EU officials said insufficient progress had been made to call a special summit of leaders next month. The two sides are currently proposing an implementation period from 30 March…

Jeff Bezos has been quiet on the disappearance of Washington Post journalist Jamal Khashoggi

As the story of Jamaal Khashoggi unfolds, one significant person has remained silent: Jeff Bezos. Bezos owns the Washington Post, the newspaper that employed Khashoggi when the journalist entered the Saudi consulate in Istanbul, Turkey, on Oct. 2. Khashoggi hasn’t been seen since, and a Turkish official has said that Saudi agents killed and dismembered him inside the consulate, according to the New York Times. The Saudi government has denied any connection to the disappearance. With his gruesome story capturing front-page headlines, U.S. business leaders have voiced their disdain. J.P.…

Amazon, Illumina among Wall Street analysts’ favorite stocks to buy on this market dip

With the fourth quarter shaping up to be considerably choppier than many expected, it’s time to look at Wall Street and see which stocks the experts are betting on as solid picks amid the selloff. The Dow Jones Industrial Average and S&P 500 fell more than 4 percent last week despite strong gains on Friday. The Nasdaq dropped nearly 3.75 percent for the week. TipRanks tracks and ranks almost 5,000 Wall Street analysts. We scanned our data for the Street’s best-rated stocks across the different sectors right now. All the…

Spotify’s new Wear OS app brings Connect features, better controls

Spotify announced today that it’s rolling out a new Wear OS app in the coming week. The standalone Wear OS app is a vast improvement over the previous Spotify app for Android Wear, which left so much to be desired that users were relying on third-party apps to play their music through the streaming service. The new Spotify for Wear OS brings better controls for music playback and browsing playlists. Most importantly, it adds Spotify Connect features that let you play music from your connected speakers. The UI remains pretty…

New York AG launches probe into MoviePass parent company for allegedly misleading investors

The New York Attorney General Barbara Underwood has opened a probe into MoviePass parent company Helios and Matheson, a source familiar with the matter told CNBC. The attorney general’s office is investigating whether the company mislead the investment community regarding the company’s financials, the source said. The investigation is in the early stages. This story is developing. Please check back for updates. Source: CNBC

Singer Buble says life changed after son’s cancer diagnosis

LOS ANGELES (Reuters) – Singer Michael Buble, who releases his new album “Love” next month, has spoken about putting his career on hold after his son Noah was diagnosed with liver cancer. FILE PHOTO: Canadian singer Michael Buble poses for a portrait while promoting his new album ‘Michael Buble: To Be Loved’ in New York April 25, 2013. Picture taken April 25, 2013. REUTERS/Brendan McDermid/File Photo“When you experience something that my family has experienced, it has to change you,” he told Reuters on Tuesday. The Canadian singer announced in November…

Want to understand the future of Android in Europe? Look at China

By the end of the month, Google will charge a licensing fee in Europe for the Play Store and apps like YouTube and Gmail in order to comply with the European Commission’s antitrust ruling. Device makers will soon have to decide whether using Google services are worth the fees, while Android as an operating system will remain free to use. With these new conditions, the future of Android in Europe could dramatically transform, becoming a pared down version that retains the OS but offers fragmented alternatives to what were once…

Watch what happens when a small drone hits a plane at 238 miles per hour

Researchers at the University of Dayton Research Institute are showing what can happen when a small drone strikes the wing of an aircraft. The team mimicked a collision between a 2.1-pound DJI Phantom 2 quadcopter and a Mooney M20 aircraft. Video shows the drone ripping through the plane’s wing in conditions that simulate a crash taking place at 238 miles per hour. « We wanted to help the aviation community and the drone industry understand the dangers that even recreational drones can pose to manned aircraft before a significant event…

Despite Trump criticism, Fed policymakers see need for more rate hikes

(Reuters) – Despite sharp criticism from U.S. President Donald Trump for raising interest rates, Federal Reserve policymakers remain generally united on the need to raise borrowing costs further, according to minutes from their most recent policy meeting. FILE PHOTO: U.S. Federal Reserve Chairman Jerome Powell holds a news conference following a two-day Federal Open Market Committee (FOMC) policy meeting in Washington, U.S., September 26, 2018. REUTERS/Al Drago/File PhotoEvery policymaker backed the Fed’s September rate increase, according to the minutes of the Sept. 25-26 meeting, published Wednesday. The display of unanimity…

U.S. wants ruling on ‘Dreamers’ in Supreme Court’s current term

(Reuters) – The U.S. Department of Justice said Wednesday it will ask the Supreme Court to intervene if an appellate court has not ruled by Oct. 31 on whether the Trump administration can end protections for “Dreamers” who entered the country illegally as children. A woman leaves the U.S. Citizenship and Immigration Services offices in New York, August 15, 2012. REUTERS/Keith Bedford In a letter to the clerk of the 9th U.S. Circuit Court of Appeals in San Francisco, a Justice Department lawyer said the action would be necessary to…

Tesla VP of manufacturing Gilbert Passin has left

Tesla’s vice president of manufacturing Gilbert Passin has left the company, according to people familiar with personnel matters there. Business Insider previously reported on Passin’s departure. Manufacturing at Tesla is led by President of Automotive, Jerome Guillen, who was promoted to that role in September. One person said that Passin left months ago. He held multiple roles during his 9-year tenure at Tesla, and was not in charge of all manufacturing in the Fremont, California, factory. A Tesla spokesperson declined to offer further details and said in an e-mail: «…

Ex-colleague of Netflix’s CEO: Investors who fear the stock’s high valuation are making a big mistake

Paul Holland, a former colleague of Netflix CEO Reed Hastings, believes the biggest mistake investors make when evaluating the streaming giant is that they « continually underestimate the market size. » « Many people have made the wrong bets » on Netflix throughout the years, Holland told CNBC’s « Squawk Alley » on Wednesday. « You just don’t understand how large the market is. » Holland’s firm, Foundation Capital, led Netflix’s Series C funding round in 1999. Holland joined Foundation Capital in 2001. He worked with Hastings on another technology…

Noel Gallagher scoops two prizes at music Q Awards

LONDON (Reuters) – British rocker Noel Gallagher triumphed at the Q Awards in London on Wednesday, scooping two prizes at the annual ceremony hosted by UK music magazine Q. FILE PHOTO: Noel Gallagher from Noel Gallagher’s High Flying Birds, whose album « Who Built the Moon? » was nominated for the Mercury Prize 2018, poses for a photograph. REUTERS/Henry Nicholls/File PhotoThe former Oasis songwriter, who released his third album “Who Built the Moon?” with his High Flying Birds band last year, won Q Best Solo Artist and Q Outstanding Contribution…