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Fear of AI Replacing Software Makers Hits Stocks. Here's What to Know. The New York TimesDon't label it a SaaSpocalypse just yet AxiosAllegra Stratton: Starmer Should Focus on Anthropic Bloomberg.comAI fears pummel software stocks: Is it 'illogical' panic or a SaaS apocalypse? CNBC
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Hegseth Says Defense Department Will Cut Ties With Harvard The New York TimesPentagon to cut ties with Harvard over ‘wokesters', ending training, programs and fellowships The GuardianWar Department Cuts Ties With Harvard University U.S. Department of War (.gov)Defense Department Severs Academic Ties with Harvard The Harvard CrimsonPentagon says it's cutting ties with ‘woke' Harvard, discontinuing military training, fellowships
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No. 2 Ohio State Comes From Behind to Beat No. 5 Iowa, 24-9, in Front of Record-Breaking Covelli Center Crowd Eleven WarriorsNo. 2 Ohio State Completes Home Season Undefeated, Down No. 5 Iowa, 24-9 Ohio State | Official Athletics WebsiteIowa wrestling vs. Ohio State live score updates and results Hawk CentralNo. 8 Hawkeyes Fall to No. 2 Ohio State Iowa Hawkeyes Athletics
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New York Attorney General Letitia James is cautioning all New Yorkers about placing trades on prediction markets ahead of the Super Bowl.
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Contemporary Amperex Technology Co. Ltd. reported quarterly net income well short of analyst estimates as the global slowdown in electric vehicle sales starts to bite.
While net income for the third quarter ended Sept. 30 rose 26 percent to 13.1 billion yuan ($1.8 billion) versus the same period last year, that was a lot lower than the 14.7 billion yuan expected. Revenue shrank 12.5 percent to 92.3 billion yuan year-on-year, sharply down on projections for 118.4 billion yuan.
The world's largest maker of EV batteries is being hit as automakers from General Motors to Ford begin to scale back EV production plans and delay model launches. Countries like Japan and Germany, home to some of the largest automotive incumbents, have seen not just a slowdown in the growth rate, but an outright decline in EV sales.
CATL supplies many big name carmakers, including Tesla Inc.
Although the Chinese giant dwarfs competitors, it isn't alone in feeling the pain. The world's third largest battery maker, South Korea's LG Energy Solution Ltd., is likely to suffer its third consecutive quarterly profit decline, its most recent preliminary earnings show.
For the January to August period, CATL's global market share stood at 37.1 percent, up 1.6 percentage points on the same period of last year, data from SNE Research show. LG Energy's market share shrunk 2.3 percentage points to 12.1 percent.
CATL's greater control over its supply chain does at least wring more profit from its suppliers, helping to drive down costs. Bloomberg Intelligence has suggested that more global EV makers adopting cheaper lithium-iron-phosphate (LFP) batteries could help CATL gain market share overseas. The company's energy-storage business is also emergin
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About 145 million American adults say that they own or have owned cryptocurrency. Statistically, that's more than half of your co-workers, neighbors and friends.
It's also about the number of Americans who own stocks.
Even though it's not regulated by a government agency, cryptocurrency is becoming mainstream. However, President Biden recently signed an executive order to address cryptocurrency risks with a whole-of-government approach that could make cryptocurrency even more attractive to investors as well as traditional banks and credit unions.
SEE MORE Crypto Has Been Through the Wringer in 2022: What Now?
For the near term though, cryptocurrency remains a volatile, speculative asset that will likely continue its gut-wrenching booms and busts. That's not to say that cryptocurrency doesn't belong in a well-diversified portfolio, but I recommend that my clients first educate themselves about cryptocurrency before deciding whether or not to invest.
As Warren Buffet said about investing in cryptocurrency: "I get into enough trouble with the things I think I know something about. Why in the world should I take a long or short position in something I don't know about?"
Here are some important concepts to get comfortable with.
How Cryptocurrency Works: The Basics
Say you order a new set of patio furniture online. A credit card company or p
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