Connect with us

World

Larry King, award-winning broadcaster, has died at age 87

Published

on

LOS ANGELES, CA – JULY 23: Talk show host Larry King attends the 68th Los Angeles Area Emmy Awards at Television Academy on July 23, 2016 in Los Angeles, California. (Photo by Michael Tullberg/Getty Images)

Michael Tullberg | Getty Images Entertainment | Getty Images

Larry King, the legendary American broadcaster who was a fixture of cable news for decades, has died. He was 87.

King passed away Saturday morning at Cedars-Sinai Medical Center in Los Angeles, according to Ora Media, the company King founded after leaving CNN. No information was immediately available about his cause of death.

King was host of a CNN talk show that became one of the network’s most-watched and longest-running programs.

King was hospitalized for the coronavirus in December. He also had confronted many medical issues, including Type 2 diabetes, heart attacks, quintuple bypass surgery and lung cancer.

His medical issues inspired him to start the Larry King Cardiac Foundation in 1988. The nonprofit aims to help those without health insurance afford medical care.

King began his broadcast journalism career in Florida in the 1950s and gained prominence in the late ’70s as host of “The Larry King Show,” an all-night nationwide call-in radio program.

CNN launched the “Larry King Live” television talk show in 1985, and it ran until 2010.

His awards included two Peabodys, an Emmy and 10 Cable ACE Awards.

For the most part King, conducted his interviews from the studio and wearing his signature suspenders. He was known for asking easy, open-ended questions to guests, making him an attractive interviewer to important figures in politics and Hollywood.

In 2012, King co-founded a production company called Ora TV with Mexican media magnate Carlos Slim. Through that company, King hosted the webs series “Larry King Now” which was made available on the streaming service Hulu.

King was married eight times to seven women and fathered five children. His children with then-wife Alene Akins, Andy and Chaia King, died within weeks of each other in the summer of 2020. Andy, 65, died unexpectedly of a heart attack in July, and Chaia, 51, died in August after being diagnosed with lung cancer. Akins, a former Playboy bunny, died in 2017.

King had three other sons: Larry Jr. from his brief marriage to Annette Kaye and sons Chance and Cannon from his marriage to Shawn Southwick. King filed for divorce from Southwick in 2019.

Source link

World

Biden signs executive order to address chip shortage through a supply chain review

Published

on

President Joe Biden signed an executive order Wednesday meant to address a global chip shortage impacting industries ranging from medical supplies to electric vehicles.

The order includes a 100-day review of key products including semiconductors and advanced batteries used in electric vehicles, followed by a broader, long-term review of six sectors of the economy. The long-term review will allow for policy recommendations to strengthen supply chains, with the goal of quickly implementing the suggestions, Biden said at a press event Wednesday before he signed the order.

The action follows calls from bipartisan members of Congress and industry leaders warning about the potential consequences of the shortage. Commonly known as chips, semiconductors are used to power electronics including phones, electric vehicles and even some medical supplies. Senate Majority Leader Chuck Schumer, D-N.Y., said that “semiconductor manufacturing is a dangerous weak spot in our economy and in our national security.”

Biden met with a bipartisan group of lawmakers Wednesday to discuss the shortage and said it was “very productive.” He praised the cooperative nature of the meeting, saying, “it’s like the old days, people actually were on the same page.”

The semiconductor supply chain had taken a hit early in the Covid pandemic since much of the world’s chips are manufactured in places like China and Taiwan. The health crisis has underscored issues with U.S. reliance on supply chains abroad in many areas, and the semiconductor industry is no different. According to the Semiconductor Industry Association, a coalition backed by several chipmakers, the U.S. only accounts for about 12.5% of semiconductor manufacturing.

The shortage has already impacted several companies. Ford said earlier this month that reduced estimates from suppliers could mean losing up to a 20% of its expected first-quarter production. General Motors said earlier this month that it would extend downtime at several production plants due to the shortage and would “reassess in mid-March.” On Wednesday, ahead of the executive order announcement, however, GM CFO Paul Jacobson said the worst of the chip shortage may actually be over already.

In a letter to Biden last week, several industry associations including SIA, the Advanced Medical Technology Association and the Motor & Equipment Manufacturers Association wrote that the U.S. should incentivize new semiconductor manufacturing plants to be established in the country to compete effectively with other nations that have invested in chip production.

Subscribe to CNBC on YouTube.

WATCH: Chip shortage slows production of game consoles, cars and more

Source link

Continue Reading

World

Dow soars to a record close overnight, Standard Chartered earnings ahead

Published

on

SINGAPORE — Stocks in Asia-Pacific rose in Thursday morning trade after the Dow Jones Industrial Average surged to a record closing high overnight.

In Japan, the Nikkei 225 jumped 1.53% in early trading as shares of conglomerate Softbank Group surged more than 3%. The Topix index also gained 1.21%.

South Korea’s Kospi rose 1.61% as shares of chipmaker SK Hynix soared more than 3%. The S&P/ASX 200 in Australia gained 0.94%.

MSCI’s broadest index of Asia-Pacific shares outside Japan traded 0.5% higher.

On the earnings front, Standard Chartered is expected to report its 2020 earnings around 12:15 p.m. HK/SIN on Thursday. On Tuesday, HSBC reported full-year earnings that beat expectations and announced a dividend payout for the first time since the Covid-19 pandemic.

Overnight stateside, the Dow jumped 424.51 points to a record closing high of 31,961.86. The S&P 500 gained 1.1% to finish its trading day at 3,925.40 while the Nasdaq Composite closed about 1% higher at 13,597.97.

The moves on Wall Street came as U.S. Federal Reserve Chair Jerome Powell continued to downplay the threat of inflation, saying it could take three years to reach the central bank’s target consistently.

In Wednesday’s testimony in front of the House Financial Services Committee, Powell said inflation could be volatile as the economy reopens and there’s increased demand. Still, the Fed chair does not expect inflation to run hot and said the central bank has tools to combat it if it should.

Currencies

The U.S. dollar index, which tracks the greenback against a basket of its peers, was at 90.176— still weaker than levels above 90.8 seen last week.

The Japanese yen traded at 105.92 per dollar, having weakened from levels below 105.6 yesterday. The Australian dollar changed hands at $0.7972, stronger then levels below $0.784 seen last week.

— CNBC’s Yun Li contributed to this report.

Subscribe to CNBC PRO for exclusive insights and analysis, and live business day programming from around the world.

Source link

Continue Reading

World

Australia passes its news media bargaining code

Published

on

A search for ‘Australia News’ on the Google homepage, arranged on a desktop computer in Sydney, Australia, on Friday, Jan. 22, 2021.

David Gray | Bloomberg via Getty Images

Australia has passed a new law that will require digital platforms like Facebook and Google to pay local media outlets and publishers to link their content in news feeds or search results.

The move was widely expected and comes days after the government introduced some last-minute amendments to the proposed bill, which known officially as the News Media and Digital Platforms Mandatory Bargaining Code.

Facebook announced Monday it will restore news pages in Australia, reversing an earlier decision to block access to news content in Australia in retaliation against the then proposed bill.

“We believe the Code will support a diverse and sustainable public interest news sector in Australia,” Paul Fletcher, Australia’s communications minister, said on Twitter.

Treasurer Josh Frydenberg said the legislation will “help level the playing field” and ensure Australian news media businesses are paid for creating original content.

Source link

Continue Reading

Trending