All posts tagged: international-business

The haunting Masters meltdown that changed Rory McIlroy’s career

The haunting Masters meltdown that changed Rory McIlroy’s career

Published by Sam Flores

Editor’s Note: This story was originally published in April 2023. CNN  —  Slumped on his club, head buried in his arm, Rory McIlroy looked on the verge of tears. The then-21-year-old had just watched his ball sink into the waters of Rae’s Creek at Augusta National and with it, his dream of winning The Masters, a dream that had looked so tantalizingly close mere hours earlier. As a four-time major winner and one of the most decorated names in the sport’s history, few players would turn down the chance to swap places with McIlroy heading into Augusta this week. Yet on Sunday afternoon of April 10, 2011, not a golfer in the world would have wished to be in the Northern Irishman’s shoes. A fresh-faced, mop-headed McIlroy had touched down in Georgia for the first major of the season with a reputation as the leading light of the next generation of stars. An excellent 2010 had marked his best season since turning pro three years earlier, highlighted by a first PGA Tour win at the …

The 0 billion beauty industry’s ‘green’ ambitions are a patchwork at best. And they’re falling short

The $500 billion beauty industry’s ‘green’ ambitions are a patchwork at best. And they’re falling short

Published by Sam Flores

CNN  —  The escalating climate crisis is shifting many people’s purchasing patterns and this extends to the $500 billion dollar global beauty industry which is grappling with a range of sustainability challenges across product manufacturing, packaging and disposal. Strategy and consulting firm Simon Kucher’s Global Sustainability Study 2021 found 60% of consumers around the world rated sustainability as an important purchase criterion, and 35% were willing to pay more for sustainable products or services. This shift in consumer preferences has propelled many beauty brands to set environmental goals: to move away from single-use and virgin plastics, provide recyclable, reusable and refillable packaging and offer more transparency around products’ ingredients so customers can ascertain how “green” their purchase is. However, consumers still struggle to understand the sustainability credentials of many products, according to the British Beauty Council. This is because the industry’s clean-up efforts have been inconsistent, and fall short of making a recognizable impact in the absence of collective goal-setting, global strategy and standardized regulations. Ingredient and branding transparency There is no international standard for …

Britain’s pound is beating every other major currency this year

Britain’s pound is beating every other major currency this year

Published by Sam Flores

London CNN  —  The British pound crashed to a record low last fall as investors rebelled against budget plans by former Prime Minister Liz Truss. Now, it’s enjoying a comeback. Sterling hit its highest level against the US dollar in 10 months on Tuesday, topping $1.25 for the first time since June 2022. The pound, which has advanced about 3.3% versus the greenback since the start of 2023, is the best-performing currency among developed economies this year. The UK currency has been boosted by indications the country’s economy is holding up better than expected. Activity is now thought to have expanded 0.1% in the final three months of last year, up from a previous estimate of no growth at all. Gross domestic product growth in January has been estimated at 0.3% after dropping 0.5% in December. This resilience is bolstering expectations the Bank of England will maintain aggressive interest rate hikes despite concerns about the health of the global banking sector. Rising rates can boost the domestic currency because they help attract foreign investors searching …

Micron Technology: China probes US chip maker for cybersecurity risks as tech tension escalates

Micron Technology: China probes US chip maker for cybersecurity risks as tech tension escalates

Published by Sam Flores

Hong Kong CNN  —  China has launched a cybersecurity probe into Micron Technology, one of America’s largest memory chip makers, in apparent retaliation after US allies in Asia and Europe announced new restrictions on the sale of key technology to Beijing. The Cyberspace Administration of China (CAC) will review products sold by Micron in the country, according to a statement by the watchdog late on Friday. The move is aimed at “ensuring the security of key information infrastructure supply chains, preventing cybersecurity risks caused by hidden product problems, and maintaining national security,” it noted. It came on the same day that Japan, a US ally, said it would restrict the export of advanced chip manufacturing equipment to countries including China, following similar moves by the United States and the Netherlands. Washington and its allies have announced curbs on China’s semiconductor industry, which strike at the heart of Beijing’s bid to become a tech superpower. Last month, the Netherlands also unveiled new restrictions on overseas sales of semiconductor technology, citing the need to protect national security. …

What OPEC’s surprise oil cut means for US gas prices

What OPEC’s surprise oil cut means for US gas prices

Published by Sam Flores

New York CNN  —  OPEC and its allies’ surprise move to slash oil production will soon be felt at US gas pumps. The group known as OPEC+ announced Sunday it would cut oil production by more than 1.6 million barrels a day starting in May, running through the end of the year. The news sent both Brent crude futures, the global oil benchmark, and WTI, the US benchmark, up about 6% in trading Monday. The production cut announcement also had an immediate impact on gasoline futures, which will be passed onto US drivers much more quickly than the spike in oil prices. RBOB, the most closely watched wholesale gasoline price, was up about 8 cents a gallon, or about 3%, in morning trading. “I think OPEC is reawakening the inflation monster,” said Tom Kloza, global head of energy analysis for OPIS, which tracks gas prices for AAA. “The White House has to be shocked and major-time pissed. It certainly alters the calculus for a while.” The national average for US gas prices stood at $3.51, …

Dogecoin jumps after Elon Musk replaces Twitter bird with Shiba Inu

Dogecoin jumps after Elon Musk replaces Twitter bird with Shiba Inu

Published by Sam Flores

New York CNN  —  Twitter’s traditional bird icon was booted and replaced with an image of a Shiba Inu, an apparent nod to dogecoin, the joke cryptocurrency that CEO Elon Musk is being sued over. Musk addressed the change Monday afternoon, tweeting, “as promised” above an image of a year-old conversation in which another user suggested that Musk “just buy Twitter” and “change the bird logo to a doge.” The doge logo appeared on the site two days after Musk asked a judge to throw out a $258 billion racketeering lawsuit accusing him of running a pyramid scheme to support the dogecoin, according to Reuters. Lawyers for Musk and Tesla called the lawsuit by dogecoin investors a “fanciful work of fiction” over Musk’s “innocuous and often silly tweets.” It wasn’t clear whether the logo change was permanent. Musk has been known to use Twitter to troll both his fans and his critics. The price of dogecoin, which is typically volatile, was up more than 20% over the past 24 hours, to about 9 cents. It …

Autism: Study finds slightly higher risk of diagnosis in areas with more lithium in drinking water, but experts say more research is needed

Autism: Study finds slightly higher risk of diagnosis in areas with more lithium in drinking water, but experts say more research is needed

Published by Sam Flores

CNN  —  A new study found a moderately higher risk of autism spectrum disorder in children born to pregnant people exposed to tap water with higher levels of lithium, but experts caution that this association does not show a direct link between the two. About 1 in 36 children in the US is diagnosed with autism spectrum disorder (ASD) each year, according to data from the US Centers for Disease Control and Prevention. Scientists still don’t know the exact cause of autism, a developmental disorder. Genetics may be a factor, but some have been looking at potential environmental causes, too. Cases may be on the rise, but that is also unclear. One study published this year on cases in the New York-New Jersey area found that autism diagnosis rates tripled among certain age groups between 2000 and 2016. A 2021 report found similar increases in cases, but the CDC says the increased number of cases is most likely linked to more doctors screening for the condition. Lithium is an alkali metal that can be found …

HSBC spinoff: Bank’s top execs face tense shareholders in Hong Kong calling for a breakup

HSBC spinoff: Bank’s top execs face tense shareholders in Hong Kong calling for a breakup

Published by Sam Flores

Hong Kong CNN  —  HSBC’s top brass defended their strategy Monday to frustrated shareholders in the lender’s largest market, as Europe’s biggest bank continued to face calls to be split up. At an informal shareholder meeting in Hong Kong, Chairman Mark Tucker and CEO Noel Quinn took questions from investors on issues ranging from how the bank was approaching demands for an overhaul of its business to its purchase of Silicon Valley Bank’s UK arm. In prepared remarks, Tucker and Quinn each reiterated the board’s recommendation that shareholders vote against a resolution on the docket for its annual general meeting in May that would force the bank to come up with a plan to spin off or reorganize its Asian business — the lender’s main source of profits. Tucker said the board was unanimous in its opposition to the resolution, stating plainly: “It would not be in your interest to split the bank.” He said the board had previously reviewed a range of options for restructuring the bank, and concluded that such alternatives would “materially …

Opinion: Why is ‘60 Minutes’ amplifying the views of Marjorie Taylor Greene?

Opinion: Why is ‘60 Minutes’ amplifying the views of Marjorie Taylor Greene?

Published by Sam Flores

Editor’s Note: Dean Obeidallah, a former attorney, is the host of SiriusXM radio’s daily program “The Dean Obeidallah Show.” Follow him @DeanObeidallah@masto.ai. The opinions expressed in this commentary are his own. View more opinion on CNN. CNN  —  Last year, GOP Rep. Marjorie Taylor Greene of Georgia spoke at a white nationalist event organized by Holocaust denier Nick Fuentes that caused Republican leaders to denounce her. Last week, Greene’s Twitter account was temporarily suspended by the Elon Musk-headed platform over a tweet with a graphic referring to a “Trans Day of Vengeance,” as she denounced a planned transgender rights rally. And come Tuesday, Greene has announced plans to protest in New York City when former President Donald Trump is expected to be arraigned on an indictment of more than 30 counts, calling the proceedings against him an “unconstitutional WITCH HUNT!” But on Sunday, Greene was featured on CBS’ “60 Minutes” in an interview the long-running show promoted on Twitter with the tease: “Republican Rep. Marjorie Taylor Greene, nicknamed MTG, isn’t afraid to share her opinions, …