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Corporate executives and board members have made several notable buys of their own stock in the opening days of May, including a big Wall Street name buying shares of Walt Disney . Director James Gorman bought 20,000 shares of the entertainment company for $2.1 million on May 8, according to securities filings and VerityData. Gorman's buy is something of an outlier among Disney executives this year, as two executive vice presidents have made small sales in 2024. Several other Macerich insiders have also bought shares in May. Pegram also bought shares in March.
Persons: Walt Disney, James Gorman, Gorman, Morgan Stanley, Gorman's, Ali John Mirshekari, Martha Sullivan's, Jackson Hsieh, Macerich, Michael Pegram's, Pegram, , Nick Wells Organizations: Walt, Disney, Sensata, MAC, Caesars Entertainment, Caesars Locations: America
CNN —For South Dakota Gov. A bipartisan group of members of Congress set up a Congressional Dog Lovers Caucus in a not so subtle dig to the South Dakota governor. Some Republicans came to her defense, like South Dakota Rep. As many questioned why she volunteered this story in her book, Noem said it demonstrates how she doesn’t run from the truth. As governor of South Dakota during the height of the Covid-19 pandemic, she resisted lockdowns.
Persons: Kristi Noem, , Donald Trump’s, , Noem, Dusty Johnson, Dakota Sen, Mike Rounds, , ” Noem, ” Trump, Stephen Colbert, Kim Jong, Emmanuel Macron, Kim, Nikki Haley, Haley, Ian Fury, ” Fury, ” Jesse Hunt, Trump, She’s, Corey Lewandowski, That’s, ” Nancy Pallozzi, Matt Gorman, Gorman, it’d Organizations: CNN, South Dakota Gov, Cricket, The Guardian, Caucus, South Dakota Rep, Fox News, Dakota Scout, US House Armed Services Committee, North Korean, Scout, Politico, South Carolina Gov, Republicans, Republican, Republican Governors Association, National Rifle Association, Trump, Trump loyalists, Mar, California GOP, Jefferson County Republicans, Jefferson County Republican Party Locations: Dakota, America, Texas, South Dakota, California, Denver, Jefferson
Who Are the Hosts of the Met Gala?
  + stars: | 2024-05-01 | by ( Callie Holtermann | ) www.nytimes.com   time to read: +1 min
Each spring a handful of attractive celebrities who do not seem as if they would hang out in any other situation are selected as co-chairs of the Met Gala, the black-tie blowout that is essentially the X Games of fashion (subtract motorcycles, add tulle). This year, Anna Wintour, Zendaya, Jennifer Lopez, Chris Hemsworth and Bad Bunny will head up the gala taking place on Monday. Bad Bunny contributed three flame emojis. The lineup of Timothée Chalamet, Billie Eilish, Naomi Osaka and Amanda Gorman in 2021 seemed to scream “We are relevant to Gen Z!”The co-chairs also tend to be among the night’s earlier arrivals. Please, spare yourself the embarrassment of asking your Met Gala watch party whether that’s the Hemsworth who plays “Thor” or the Hemsworth who was in “The Hunger Games” — we’re here to help.
Persons: Anna Wintour, Zendaya, Jennifer Lopez, Chris Hemsworth, ” Mr, Hemsworth, Bunny, Timothée Chalamet, Billie Eilish, Naomi Osaka, Amanda Gorman, that’s, “ Thor ” Organizations: X, Hemsworth
AdvertisementThe units are combining their outsourced investment services for ultra-high-net-worth wealth clients and institutional customers. The wealth management arm is there to help them pay less taxes on their windfall and manage their fortune. That said, Morgan Stanley has drawn the line in the past at some offerings like health savings accounts. AdvertisementFor Finn, those offerings are a means to an end: converting as many of these clients as possible to become fee-paying wealth management clients. The revenue and margins of the workplace channel and E-Trade, which Morgan Stanley acquired for $13 billion in 2020, are "irrelevant," he said.
Persons: , Morgan, Jed Finn doesn't, Finn, Andy Saperstein, James Gorman's, Saperstein, Jacques Chappuis, Ben Huneke, Andy Saperstein's, Larry Lettera, Wagner, multibillion, Morgan Stanley, Finn isn't, We're, Jeff McMillan Organizations: Service, McKinsey, bank's, Business, Wall Street, Solium, OpenAI, AIMS
Many Fortune 500 CEOs have previously worked at McKinsey. The firm has become known as a CEO factory, but has sparked controversy in the past, too. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . This story is available exclusively to Business Insider subscribers.
Persons: Sundar Pichai, Sheryl Sandberg, , it's Organizations: McKinsey, Service, Street, Department of Justice, Enron, Business Locations: Saudi
Charly Triballeau | AFP | Getty ImagesBillionaire donors like Robert Kraft and Leon Cooperman are weighing their support for Columbia University amid rising campus tensions over pro-Palestinian protests. "Columbia is grateful to Mr. Kraft for his years of generosity and service to Columbia," a Columbia spokesperson said in a statement to CNBC. Cooperman and Kraft so far, represent a minority of wealthy Columbia University donors who are speaking out on the protests. CNBC reached out to half a dozen foundations listed by Columbia University as having given at least $1 million to the school since 2014. Students protest in support of Palestinians on Columbia University campus, as protests continue inside and outside the university, amid the ongoing conflict between Israel and the Palestinian Islamist group Hamas, in New York City, U.S., April 22, 2024.
Persons: Bruce A Blakeman, Charly Triballeau, Robert Kraft, Leon Cooperman, Kraft, Nemat, Shafik, Roger Goodell, Austin McAfee, Cooperman, James Gorman, Morgan Stanley, David Greenspan, Leon Cooperman Scott Mlyn, University President Shafik, Caitlin Ochs Organizations: Nassau, Columbia University, AFP, Getty, Columbia, New England Patriots, Georgia World, Center, Kraft Group, Foundation, Combat, Kraft Center for Jewish, The Kraft Group, CNBC, Omega Family, Columbia Business School, Slate, CNBC Columbia Students, Justice, New York Police, NYPD, University President, Students, Columbia University campus, Hamas Locations: New York, Columbia, Gaza, Atlanta, Palestine, Israel, Palestinian, New York City, U.S
More federal regulators are probing Morgan Stanley to find out how it vets wealthy clients, per The Wall Street Journal. One client includes a Russian-linked billionaire who was sanctioned by the UK, the Journal reported. AdvertisementMore federal regulators, including the Securities and Exchange Commission, are looking into how Morgan Stanley vets its wealthy clients and their sources of money, The Wall Street Journal reported on Thursday. One such client includes a Russian-linked billionaire who has been sanctioned by the UK, the Journal reported. A spokesperson for Morgan Stanley did not immediately respond to a request for comment.
Persons: Morgan Stanley, , James Gorman, Morgan, Morgan Stanley's Organizations: Street, SEC, Service, Securities and Exchange Commission, Caribbean ., Treasury Department, Federal Reserve, Bloomberg, Regulators, Foreign, Journal, Deutsche Bank, Reuters Locations: Caribbean
Club holding Wells Fargo will post quarterly results on Friday, followed by our other financial holding, Morgan Stanley, on Tuesday. In theory, higher borrowing costs mean Wells Fargo can generate more money from those interest-earning assets, but it's not that simple. It's hard to say with the fluid inflation and rate expectations whether Wells Fargo might change its NII outlook when it reports on Friday. Wells Fargo also has a key long-term growth prospect in the potential removal of its $1.9 trillion Fed-imposed asset cap. A woman walks past Wells Fargo bank in New York City, U.S., March 17, 2020.
Persons: Morgan Stanley, We're, Jim Cramer, Wells, Wells Fargo's, Mike Santomassimo, Santomassimo, Jim said, Jim, Wells Fargo, Charlie Scharf, Charlie's, He's, Morgan, there's, Jefferies, Reddit's, James Gorman, Ted Pick, Jim Cramer's Organizations: Club, Silicon Valley Bank, UBS, Investment, JPMorgan, Jefferies, Discover, Wall Street, Amer Sports, Astera Labs, Reddit's, New York Stock Exchange, Street Journal, CNBC Locations: Wells, Silicon, Wells Fargo, Capital, Wilson, Morgan, New York City, U.S
But over the last several months, the Disney chief made significant moves that took the wind out of those sails. Regardless, the course of action taken by Iger had the same effect, pouring cold water on Peltz’s public grievances. On streaming strategy: Iger moved to take full control of Hulu in a major deal with Comcast. Last week, Disney merged the service into Disney+, putting both libraries into a single app in a move once considered unthinkable. Disney investors overwhelmingly moved to elect Disney’s slate of directors, rejecting Peltz and former company exec Jay Rasulo.
Persons: Bob Iger, Nelson Peltz, shoring, Peltz, , Iger, ” Iger, Ron DeSantis, , Bob Chapek, Morgan Stanley, James Gorman, Jay Rasulo, ” Trian, It’s Organizations: New York CNN, Disney, ESPN, Florida Gov, Hulu, Comcast, CNBC, Google, Partners, Company, Dow Jones Industrial Locations: New York, Magic, , refocusing
If you had the opportunity to hear activist investor Nelson Peltz, the defeated candidate for the Disney board, you did not get a definitive answer, as much as I pressed. In my CNBC interview with Peltz on Thursday, he assured us that he would be back if Iger didn't deliver on his promises. Iger talked about the board's succession committee, which former Morgan Stanley CEO James Gorman and now Disney board member, is on. They're confident that they'll pick the right person at the right time," Iger said on CNBC . I most feared the blowout in Disney stock in a fit of pique and right now I am not seeing that.
Persons: Walt Disney, Nelson Peltz, Peltz, Bob Iger, Iger, Bob, they'll, Jim, weren't, Iger's, Bob Chapek, Disney, Morgan Stanley, James Gorman, Chapek, Ike Perlmutter, it's, It's, Jim Cramer's, Jim Cramer, Joe Raedle Organizations: Walt, Disney, CNBC, Iger, Marvel Entertainment, ESPN, Fox, Warner Bros ., Club, Apple, Walt Disney World, Getty Locations: Orlando , Florida
Trian claims Disney's board has failed to generate sufficient returns in recent years as subscription streaming losses have mounted and traditional TV subscribers have declined. Early vote countBoth Disney and Trian received support from influential shareholders ahead of Wednesday's meeting. Roughly one-third of Disney's shareholders are retail shareholders, who historically vote in small numbers in annual meetings. The arrangement still raised questions about ValueAct's support for the company and whether Disney's board should have disclosed the prior relationship. WATCH: Disney board battle reaches final moments
Persons: Bob Iger, Mickey Mouse, Valerie Macon, Nelson Peltz, Jay Rasulo, They've, Maria Elena Lagomasino, Michael Froman, Peltz, Ike Perlmutter, Trian, Disney's, Iger, Bob Chapek, Patrick T, Adam Jeffery, Morgan Stanley, James Gorman, CNBC's, George Lucas, Laurene Powell Jobs, Lucas, Powell Jobs, Ken Squire, Rowe Price, Rowe, Mason Morfit's, ValueAct, Neuberger Berman, John Ferguson, Rasulo —, Glass Lewis, Iger's, Gorman, Jeremy Darroch, CNBC's Andrew Ross Sorkin, Heidi Gutman, Lagomasino, shouldn't, Blackwells, Rasulo, Jason Aintabi, John Foley, Jessica Schnell, Craig Hatkoff, Leah Solivan, ValueAct hasn't Organizations: AFP, Getty Images Disney, Voters, Trian Partners, Disney, PepsiCo, Marvel, SEC, Fallon, Bloomberg, Getty, CNBC Disney, CNBC, Star Wars, LucasArts, Pixar, BlackRock, Institutional, California Public Employees, Yacktman Asset Management, Saratoga Proxy, ISS, Sky, Trian Fund Management, NBCU, Bank, NBCUniversal, Green, Comcast Locations: Los Angeles, New York
A Taylor Swift fan is suing Delta Air Lines after she was sexually assaulted on a flight. AdvertisementA woman is suing Delta Air Lines after she was sexually assaulted on a flight last year. AdvertisementIndeed, The US Attorney's Office for the Western District of Washington highlighted two other incidents in March in its jurisdiction. Roberson faces up to a year in prison when sentenced on June 5, 2024, said the US Attorney's Office on March 8. Sexual assaults on aircraft are also increasing nationally, with the FBI last year noting a "disturbing increase" in incidents.
Persons: Taylor, , Taylor Swift, Mark Lindquist, Duane Brick, Brick, " Lindquist, Brian Patrick Durning, Tessa Gorman, Jack Roberson, Seattle . Roberson Organizations: Delta Air Lines, Service, Mark Lindquist Law, Delta, Newsweek, US, Office, Western, of Washington, Airlines, Getty, of, Washington, FBI Locations: Delta, Phoenix, Seattle, King County , Washington, FilippoBacci, Western, of Washington, Emirates, Atlanta
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailMorgan Stanley's Gorman on Disney proxy fight: Focus is now on what's right for the companyJames Gorman, Morgan Stanley executive chairman and new Disney board member, joins 'Squawk on the Street' to discuss why Disney's trying to keep Trian from joining the board, the underperformance of Disney's stock against its competitors, and the succession issue to figure out for Disney.
Persons: Morgan Stanley's Gorman, James Gorman, Morgan Stanley Organizations: Disney
Meanwhile, Amazon 's pharmacy efforts added another wrinkle and Disney 's newest board member weighed in on the proxy fight underway at the entertainment giant. F YTD mountain F stock performance year-to-date. The divergence in stock performance was not great to see. AMZN YTD mountain AMZN stock performance year-to-date. To help offer the swift delivery, Amazon said it is leveraging artificial intelligence "to help pharmacists fill prescriptions quickly and accurately."
Persons: John Lawler, Ford, Jim Cramer, , Doug Herrington, we're, Jim, Morgan Stanley, James Gorman, Gorman, Trian Partner's Nelson Peltz, Jay Rasulo, We've, Peltz, Wendy's, Heinz, Jim Cramer's, Jim Farley, Bill Pugliano Organizations: Ford Motor, Ford, Bank of America Securities Auto Summit, Motors, Amazon Pharmacy, Worldwide Amazon Stores, Nvidia, CNBC, Disney, FactSet, Procter, Gamble, Unilever, Ford Motor Company, Technology, Getty Locations: , Monday's Homestretch, New York City, Los Angeles, Seattle , Miami, Indianapolis, Phoenix, Austin , Texas, China, Marshall , Michigan, Romulus , Michigan
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC's full interview with new Disney board member James GormanJames Gorman, Morgan Stanley executive chairman and new Disney board member, joins 'Squawk on the Street' to discuss why Disney is trying to keep Trian from joining the board, the underperformance of Disney's stock against its competitors, and more.
Persons: James Gorman James Gorman, Morgan Stanley Organizations: Disney
Read previewMorgan Stanley's wealth business is the envy of Wall Street, with $5.1 trillion in assets. The wealth management division has buoyed Morgan Stanley's stock during the market slowdown, but its growth has slowed. Finn added that wealth management clients would soon have access to more customized and tax-efficient portfolios through Parametric, a direct indexing provider it acquired via Eaton Vance in 2021. AdvertisementThis is part of Finn's broader strategy to get customers across the bank to use as many Morgan Stanley products as possible. "The challenge with our model, historically, is we had a great wealth management firm if you wanted to work with a financial adviser," he said.
Persons: , Morgan, Jed Finn, Finn, Andy Saperstein, James Gorman, Ted Pick, Morgan Stanley's, Vince, Chad Turner, OpenAI, it's, It's, Eaton Vance, Morgan Stanley Organizations: Service, Bank of America, Business, McKinsey, AIMS
Of that bonus, $20.3 million, or roughly 70%, will be awarded in stock, with a remaining cash bonus portion of about $8.7 million. Solomon's freshly-announced 2023 comp puts him just behind his fellow Wall Street bosses. Everyone knows that, on Wall Street, money talks. But Wall Street is a notoriously competitive gauntlet and Solomon has yet to beat his personal 2021 record this time around. There's always next year — and it looks like Solomon will still be here to take another bite at the apple.
Persons: David Solomon, Goldman Sachs, Jamie Dimon, Morgan Stanley, James Gorman, he's, Goldman, , Solomon, Adebayo Ogunlesi, What's, There's Organizations: Service, JPMorgan Chase, Wall
By Steve GormanLOS ANGELES (Reuters) - Pop superstar Taylor Swift has donated $100,000 to the family of the woman slain in a shooting near a rally for the Kansas City Chiefs where the singer's boyfriend, tight end Travis Kelce, and his teammates were celebrating their Super Bowl victory. A message left with the donations on the page reads: "Sending my deepest sympathies and condolences in the wake of your devastating loss. With love, Taylor Swift." Representatives for the singer confirmed to CNN and the showbiz trade publication Variety that the contributions from Swift were authentic. Two teenagers arrested shortly after the bloodshed have been charged in family court as juveniles in the case with firearms violations and resisting arrest.
Persons: Steve Gorman, Taylor Swift, Travis Kelce, Elizabeth Lopez, Galvan, Swift, Lopez, Marguerita Choy Organizations: ANGELES, Reuters, Kansas City Chiefs, Kansas City, CNN, Variety, Chiefs, San Francisco 49ers, Super, Police, Prosecutors Locations: Australia, Los Angeles
My mom died of cancer when I was 14, and now my dad has been diagnosed with it. When I'm with my daughter I feel guilty that I'm not with my dad, and vice versa. But when I'm with my dad, I feel guilty I'm not with Ellie. And when I'm with Ellie, I feel guilty I'm not with my dad. It's really, really hard.
Persons: , I've, texted, Ellie, I'm, Will, it's, isn't, Ellie — Organizations: Service Locations: New York City, Massachusetts, Queens
Layoffs could be coming to Morgan Stanley's crucial wealth management business — a prudent step to improving the bank's overall cost structure amid uncertainty over Federal Reserve interest rate moves. During his tenure at the helm, Gorman pivoted Morgan Stanley to rely less on investment banking by building up wealth management, which has a more predictable revenue stream. MS YTD mountain Morgan Stanley (MS) year-to-date performance Possible layoffs in wealth management are important because it's Morgan Stanley's largest operating segment — making up roughly half of companywide revenue. "Morgan Stanley's paying you to wait with that 4% yield, and they're right in there buying with you thanks to their aggressive buyback." Ted Pick, CEO Morgan Stanley, speaking on CNBC's Squawk Box at the World Economic Forum Annual Meeting in Davos, Switzerland on Jan. 18th, 2024.
Persons: Morgan Stanley's, Morgan Stanley, Ted Pick, CNBC's, James Gorman, Jan, Gorman, it's Morgan, Pick, Jim Cramer, Jim Cramer's, Jim, Adam Galici Organizations: Wall Street, Silicon Valley Bank, Currency, CNBC Locations: Silicon, management's, U.S, Wells Fargo, Davos, Switzerland
Layoffs are coming for Morgan Stanley's wealth-management division, according to The Wall Street Journal. It's one of the first major moves since Chief Executive Ted Pick took over. AdvertisementMorgan Stanley is trimming from its wealth-management division, according to The Wall Street Journal. The cuts represent about 1% of the total wealth-management division. The wealth-management division has seen some slowing down in recent months.
Persons: Morgan Stanley's, Ted Pick, , Morgan Stanley, James Gorman, aren't Organizations: Wall Street, Service
One of Wall Street's favorite employee leverage tactics — non-compete agreements — is facing a major threat, and there could be far-reaching implications for how the financial industry does business. But it's also clear that Wall Street firms are under particular attention for the practice. With major Wall Street firms already having among the most unpopular back-to-work policies in the market, "Wall Street is already in a position where they are recognizing they don't have all the hands they had before," Chamberlin said. Shore recommends Wall Street firms undertake a thorough competitive analysis at every level in every department to ensure they are market competitive. Even if the FTC rule goes through, Wall Street firms still have options to protect their business.
Persons: Charles Scharf, Wells, Brian Thomas Moynihan, Jamie Dimon, JPMorgan Chase, Jane Fraser, Ronald O’Hanley, Robin Vince, BNY Mellon, David Solomon, Goldman Sachs, James Gorman, Morgan Stanley, General Mills, , Wall, it's, Kathy Hochul, that's, Covid, Laurie Chamberlin, Chamberlin, Lina Khan's, Khan, It's, David Fisher, Gilbert, Fisher, Juan A, Crowell, Arteaga, Paul ​ Webster, Matt Shore, Kareem Bakr, Webster, Leslie John, Ballard Spahr, John Organizations: Company, Bank of America, JPMorgan, Citigroup, BNY, Google, Apple, Pfizer, Exxon Mobil, General Electric, Procter, Gamble, Nike, Economic, Institute, Federal Trade Commission, North America, American College of Emergency Physicians, Davis, FTC, Supreme, Industry, Moring, Wall, Phaidon International, Wall Street Locations: Wells Fargo, Hart, Washington ,, New York, . California, U.S, Gilbert . Massachusetts, Oregon, Washington, Massachusetts
“And I wonder if there’s a major presidential endorsement coming from an artificially culturally propped-up couple this fall." Conspiracy theories gain the widest attention when they target the most well-known figures and institutions. The latest right-wing conspiracy theories blend Swift with claims about the most watched sporting event in the U.S. and a pivotal presidential election, making any intersection of the events ripe for conspiracy theories. “The good news is people don’t believe in conspiracy theories more than they have in the past. I’ve taken my daughter to Taylor Swift concerts before.
Persons: , Taylor Swift, , Vivek Ramaswamy, Travis Kelce, Ryan Allstun, Nikki Haley, Allstun, Donald Trump, Swift, , Joe Biden, Matt Gorman, ” Susan Cummins, Haley, Cummins, ” Cummins, Joseph Uscinski, Pied Piper, ” Uscinski, Mellissa, wouldn’t, Best, Uscinski, Biden, Phil Bredesen, Sen, Marsha Blackburn, it’s, credibly, David Jackson, Jackson, Trump, “ Taylor Swift, Karoline Leavitt, Sean Hannity, Leavitt, ” Haley, ” “ Taylor Swift, I’ve, ___ Pollard Organizations: WASHINGTON, Super, Kansas City Chiefs, Green Bay Packers, GOP, Democratic, Swift, Philadelphia Eagles, University of Miami, Trump, Republicans, Tennessee Gov, Democrat, Senate, Republican, Bowling Green State University, Fox News Locations: Lancaster , South Carolina, Charleston , South Carolina, New Jersey, U.S, Florence , South Carolina, Columbia , South Carolina
Some Fall Out of Vogue. She Jumped.
  + stars: | 2024-02-07 | by ( Vanessa Friedman | ) www.nytimes.com   time to read: +1 min
When Gabriella Karefa-Johnson, the fashion editor-personality who became famous as the first Black woman to style a Vogue cover (in 2021) and even more famous after she got into a social media brouhaha with Kanye West, was interviewing for her first big fashion job at Vogue, she ended up, not surprisingly, in front of Anna Wintour. Ms. Wintour asked Ms. Karefa-Johnson where she wanted to be in 10 years. Ms. Karefa-Johnson answered — as Ms. Wintour once had, when asked a similar question — editor in chief of Vogue. Almost exactly a decade later, Ms. Karefa-Johnson doesn’t necessarily want that any more. “I resigned as kind of a material action of solidarity and because it was just time for me to move on,” Ms. Karefa-Johnson, 32, said recently.
Persons: Gabriella Karefa, Johnson, Anna Wintour, Ms, Wintour, Karefa, , Kamala Harris, Amanda Gorman, Margot Robbie, Barbie ”, Condé Nast, Organizations: Kanye, Vogue Locations: Israel, Gaza
Snap's new mass layoff impacted workers in a range of roles across the company. Another perceived Snap in recent months as a company in "managed decline." C-suite executives who were hired or promoted, like Jerry Hunter and Jeremi Gorman, respectively, to build up and manage Snap's business, are gone and are not being replaced, as CEO Evan Spiegel is taking on oversight of the business. Engineering leaders, too, left the company in recent months. Snap has hired some new executives, like Patrick Harris, Ronan Harris, Darshan Kantak and Eric Young, but none are in the c-suite.
Persons: Evan Spiegel, Snap's, Spiegel, Jerry Hunter, Jeremi Gorman, Patrick Harris, Ronan Harris, Darshan Kantak, Eric Young Organizations: Business, Workers, Monday, BI, Meta, Apple, Engineering Locations: North America, California
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