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☆ LeBron James headlines Team USA’s 2024 Paris Olympics men’s basketball squad
▼ + stars: | 2024-04-17 | by ( Kevin Dotson | ) edition.cnn.com time to read: +2 min

CNN —USA Basketball unveiled the player roster Wednesday for the men’s team that will compete in the 2024 Paris Olympics. The team will be anchored by Los Angeles Lakers forward LeBron James, making his fourth appearance after skipping the past two Olympics. This will be the 36-year-old Curry’s first Olympic Games, making him the fifth player to represent the Warriors at an Olympics with Team USA. The US team will hold a training camp and exhibition games in Las Vegas in July, before traveling to Paris. The Opening Ceremony for the 2024 Paris Olympics will take place on July 26 with men’s basketball play beginning the following day.

Persons: ”, LeBron James, James, Anthony Davis, Stephen Curry, Kevin Durant, Devin Booker, Jayson Tatum, Anthony Edwards, Kawhi Leonard, Tyrese, Bam Adebayo, Joel Embiid, Paul Childs, Embiid, Steve Kerr, Gregg Popovich Organizations: CNN, USA, Tokyo Olympics, Los Angeles Lakers, Lakers, Golden State Warriors, Phoenix Suns, Boston Celtics, Minnesota Timberwolves, Los Angeles Clippers, Indiana Pacers, Miami, Olympic Games, Warriors, Team USA, Philadelphia 76ers, NBA, Tokyo Games, US Locations: Tyrese Haliburton, Cameroon, France, Las Vegas, Paris

☆ How a single mom with four kids who drives for DoorDash and Walmart Spark struggles to make ends meet: 'It is a never-ending vicious cycle'
▼ + stars: | 2024-03-12 | by ( Noah Sheidlower | ) www.businessinsider.com time to read: +8 min

Bri, a single mom of four, is struggling to make ends meet driving for DoorDash and Walmart Spark. Bri turned to gig driving after a knee injury made her previous job at an Amazon warehouse untenable. Gig driving with a disabilityBri was a business owner in home healthcare, but once the pandemic struck, she lost access to many of her clients. She was unsure how long Amazon's disability payments would last, and gig driving was one of her only options. She's driving her daughter's car after she wrecked hers a few months ago.

Persons: Bri, —, aren't, Lyft, Uber, DoorDash, She's, GrubHub, she's, hasn't, there's, I've Organizations: DoorDash, Walmart, Service, Business, Doordash, Amazon, Down, UPS Locations: Fort Worth , Texas, New York City, Galveston, Texas, bam, DoorDash

☆ We should make the Monday after daylight-saving time a federal holiday
▼ + stars: | 2024-03-09 | by ( Katie Notopoulos | ) www.businessinsider.com time to read: +5 min

That is why I propose a common-sense, everyone-wins idea: Let's make the Monday after daylight-saving time starts a federal holiday. Many of our 11 federal holidays were added in recent history: Memorial Day in 1968 (and observed since 1971). And yes, federal holidays come with an economic cost; government workers still get paid for that day. Everyone knows that's the worst of all the federal holidays, in the middle of dreary February. The best Presidents Day has to offer in terms of cultural impact is that it's when mattresses go on sale.

Persons: Let's, —, Juneteenth, You've, Martin Luther King Jr, That's Organizations: Service, Labor, Daylight Locations: —, Caribbean, bam, East Coast, Washington

☆ Many single parents who drive for apps like Uber and Lyft say it's their best option — but they still can't pay their bills
▼ + stars: | 2024-03-06 | by ( Noah Sheidlower | ) www.businessinsider.com time to read: +12 min

AdvertisementFlexibility can be an illusionMost single parents with whom BI spoke said they valued the flexibility gig work gives them. Some single parents with disabilities said being able to take days off has helped them stay healthier and avoid burnout. This means that a higher percentage of single parents' earnings goes toward childcare costs, pushing some away from using childcare entirely. "These fluctuations and discrepancies can be devastating to individuals who don't have other mechanisms to make money, including single parents who are often operating on a single income," Greening said. AdvertisementIt's not easy for parents with older childrenThe issues single parents face still linger for those with older children.

Persons: Bri, Uber, Dara Khosrowshahi, Lyft, Uber hasn't, Susan, she's, Lindsey Cameron, Cameron, Cindy Lehnhoff, Lehnhoff, Bryant Greening, Greening, Starla, She's, Genesis, Paul, he's, It's humbling Organizations: Service, DoorDash, Walmart, Business, Wharton School, National Child Care Association, BI, Uber, Security Disability Insurance, Arizona State University Locations: Fort Worth , Texas, Grubhub, bam, Ohio, Jacksonville , Florida, Atlanta, Las Vegas

☆ MrBeast is asking for trouble by calling his employees 'friends of friends' instead of giving them job titles, HR experts say
▼ + stars: | 2024-02-19 | by ( Lindsay Dodgson | ) www.businessinsider.com time to read: +6 min

Read previewYouTube megastar MrBeast doesn't like traditional job titles. Instead, he prefers to call his employees "friends of friends," or "FOFs." Experts say leaning away from traditional work structures, like disregarding job titles, may give the illusion of an employer providing a better culture, but in reality, these frameworks persist because they are important. "Get job titles defined and what someone's actually in charge of, and everyone will be able to hold each other to account about whether all the wheels are turning neatly." A cautionary taleTravis Lindemoen, the founder and CEO of the recruitment startup Enjoy Mondays, told BI that "friends of friends" set off "alarm bells" for him.

Persons: —, Jason Zavaleta, MrBeast, Jimmy Donaldson, Donaldson, doesn't, Derek Bruce, someone's, Bruce, Travis Lindemoen, YouTubers, David Dobrik's, Dobrik, Jeff Wittek, Wittek, Lindemoen, Troy Guthrie Organizations: Service, Business, YouTube, Time, OSHA, BI Locations: bam

INDIANAPOLIS (AP) — The first half of the All-Star Game was record-setting, and not exactly the more-competitive level of play that the NBA was seeking. The Eastern Conference led the Western Conference 104-89 at halftime Sunday night — with the 193 points the most ever scored in an All-Star half. The previous record was set last year, when 191 points were scored before halftime. The East tied the record for points in any half; the West also had 104 in the second half of the 2016 game in Toronto, which it won 196-173. NBA Commissioner Adam Silver and other league executives were seeking a more competitive All-Star Game after last season's 184-175 matchup was widely panned — and television ratings plummeted.

Persons: Indiana's Tyrese Haliburton, Adam Silver, Famer Larry Bird, Brunch, “, ” Bird, “ I’m, you’ve, Luka Doncic, Donovan Mitchell, Bam Adebayo, Nikola Jokic’s, Devin Booker Organizations: INDIANAPOLIS, NBA, Eastern Conference, Western, East, Famer Locations: Toronto

INDIANAPOLIS (AP) — A new honor is awaiting Miami’s Bam Adebayo: He’ll be an All-Star starter for the first time. Adebayo was announced Saturday as the replacement for Philadelphia’s Joel Embiid in the Eastern Conference starting lineup for Sunday night’s NBA All-Star Game. Embiid — the reigning MVP and two-time defending scoring champion — is missing the game because of a knee injury. Milwaukee coach Doc Rivers, who will lead the East team in the All-Star Game, made the selection and informed Adebayo on Saturday morning. “I looked at Big Joel out, what other (center) do we have on the team, and Bam got the honor.

Persons: Bam, Adebayo, Philadelphia’s Joel Embiid, Embiid —, —, Doc Rivers, you’re, ’ ”, “ It’s, ” Adebayo, He’ll, Dwyane Wade, Shaquille O’Neal, LeBron James, Chris Bosh, Alonzo Mourning, Anthony Mason, Mason, Grant Hill, Bosh, ” Rivers, “, Big Joel, Giannis Antetokounmpo, ___ Organizations: INDIANAPOLIS, Eastern Conference, Sunday, East, Rajon Rondo, U.S . Olympic, Tokyo Games, Paris, Adebayo, Heat, Milwaukee Locations: Milwaukee

INDIANAPOLIS (AP) — Last season's All-Star Game played out in a way that the NBA hopes to never experience again. So, the league sent a message: Make the All-Star Game better. Boston's Jayson Tatum set an All-Star Game record by scoring 55 points and the game had a total — total — of four free throws, all of them shot by Antetokounmpo's team. “I’m proud of what the guys did at the in-season tournament and I’m looking forward to the All-Star Game. Durant is a 14-time selection and set to actually play in his 11th All-Star Game.

Persons: Nobody, Golden, Stephen Curry, Phoenix's Kevin Durant, LeBron James, Milwaukee's Giannis Antetokounmpo, —, We’ve, ”, Curry, “ It’s, James, Antetokounmpo, Giannis, Boston's Jayson Tatum, ” Tatum, Doc Rivers, Chris Finch, Rivers, ” It’s, Adam Silver, Joe Dumars, Dumars, ” Dumars, “ I’m, Kareem Abdul, Jabbar, Dirk Nowitzki, Michael Jordan, Durant, Scottie Barnes, Philadelphia's Tyrese Maxey, New York's Jalen Brunson, Orlando's Paolo Banchero, ” Banchero, Julius Randle, Philadelphia's Joel Embiid, Atlanta's Trae Young, Bam Adebayo, Tatum, Damian Lillard, Luka Doncic, Nikola Jokic, Oklahoma City's Shai Gilgeous, Alexander, “, ” Durant Organizations: INDIANAPOLIS, NBA, Eastern Conference, Western Conference, Los Angeles Lakers, LeBron, “, Lakers, Milwaukee, Tyrese, Indiana Pacers, West, of Famers Locations: Indianapolis, New, Barnes, Tyrese Haliburton, Dallas, Oklahoma

INDIANAPOLIS (AP) — Victor Wembanyama’s first NBA All-Star experience will be hectic, just like everything else has seemed so far in his rookie season with the San Antonio Spurs. He’s going to the Tech Summit, the league’s thinktank that kicks off the All-Star festivities on Friday morning. “Honestly, my mind has been so focused on our season that I haven’t thought about it too much,” Wembanyama said. He may play more down the stretch of the season, if the Spurs determine that’s best. “Of course, being selected as an All-Star would have been a great achievement especially in my rookie year,” Wembanyama said.

Persons: — Victor Wembanyama’s, He’s, He’ll, ” Wembanyama, “ It’s, Shaquille O’Neal, Wembanyama, he’d, Hakeem Olajuwon, David Robinson, Kareem Abdul, Jabbar, Alonzo Mourning, Patrick Ewing, Bob McAdoo, Elvin Hayes, Bob Lanier, Wemby, Erik Spoelstra, Bam, “, Gregg Popovich —, what’ll, ” Popovich, ”, Tim Duncan, Duncan, minding, Chet Holmgren, deservedly, ” O’Neal, won’t, — Organizations: INDIANAPOLIS, San Antonio Spurs, Tech, NBA, Star, of Fame, San, Spurs, Western Conference Locations: Miami, San Antonio, rebuilder, France, Oklahoma

MIAMI (AP) — Jayson Tatum had 26 points, 10 rebounds and nine assists and the Boston Celtics withstood a late rally to beat the Miami Heat 110-106 on Sunday. Kristaps Porzingis had 25 points, Jaylen Brown had 20 points and Jrue Holiday scored 15 for Boston, which hit 16 of 39 3-point attempts. Last time we came here we smacked them, so we knew it would be a closer game,” Tatum said of Boston’s 33-point win in Miami Jan. 25. Everybody’s being competitive.”The Celtics have won all three matchups with the Heat this season and have won six of the last seven games against them. Brown and Robinson exchanged words and Brown was assessed a flagrant 1 foul while Robinson got called for a personal foul.

Persons: — Jayson Tatum, Kristaps Porzingis, Jaylen Brown, Jrue Holiday, ” Tatum, “, you’ve, ”, Joe Mazzulla, Tyler Herro, Bam Adebayo, Duncan Robinson, Caleb Martin, Jimmy Butler, Terry Rozier, Josh Richardson, Rozier, Erik Spoelstra, ” Robinson, Jimmy, ” Richardson, Tatum, Brown, Robinson, ” Brown, ” Miami, ” Spoelstra, ___ Organizations: MIAMI, Boston Celtics, Miami Heat, Boston, Miami, ”, Celtics, Eastern Conference, ” Celtics Locations: Miami Jan, Brooklyn, Milwaukee

PHILADELPHIA (AP) — Joel Embiid’s timeline to return to the Philadelphia 76ers is still unclear following knee surgery. His availability this summer for the U.S. Olympic team is just as murky. Kerr even hoped to meet up with Embiid -- out at least four weeks, likely much longer -- before the Warriors played the 76ers on Wednesday night. “Our fingers are crossed he’ll be healthy this summer and able to play,” Kerr said. “It looks like this summer would be a little bit of a last hurrah for some of the guys on the team,” Kerr said.

Persons: — Joel Embiid’s, Steve Kerr, Kerr, “ There’s, ” Kerr, “ We’re, Embiid, Erik Spoelstra, Tyronn, Mark Few, Gonzaga, “, ” Embiid, I’ve, Stephen Curry, Kevin Durant, LeBron James, Bam Adebayo, Devin Booker, Durant, Steph, Kevin, Anthony Edwards, Tyrese, Jalen Brunson, ” ___ Organizations: PHILADELPHIA, Philadelphia 76ers, U.S . Olympic, Embiid, Warriors, 76ers, USA Basketball, Paris Olympics, Los Angeles Clippers, France, Paris Games, Olympic, Germany, Paris, “, NBA, U.S, Golden State Locations: U.S, France, Miami, Cameroon, Serbia, Canada, Australia, Japan, South Sudan, Tyrese Haliburton, paris

☆ 8 more of our stocks report earnings next week. Here's what we want to see
▼ + stars: | 2024-02-03 | by ( Zev Fima | ) www.cnbc.com time to read: +13 min

The three major averages posted gains for the fourth week in row, lifted by strong quarterly earnings results for most of the Big Tech companies and a strong jobs report. A weaker ADP Employment report on Wednesday provided no read-through to the monster January jobs report Friday. Here's what we're keeping an eye on in the coming week: 1. Earnings: It's another big earnings week head for the portfolio, with 8 more of our companies reporting. Consistency is what we appreciate most from nat gas giant Linde , so we're hoping for another quarter of solid earnings growth Tuesday.

Persons: Estee Lauder, Eli Lilly, Mounjaro, Nelson Peltz, Estée Lauder, Tyson, CARR, Jacobs, Willis Towers Watson, Edwards, Walt Disney, Oscar Health, Philip Morris, Armour, BAX, BILL, Jim Cramer's, Jim Cramer, Jim, George Frey Organizations: Big Tech, Dow Jones Industrial, Nasdaq, PMI, Apple, Starbucks, Procter, Gamble, GE Healthcare, DuPont, Linde, Ford, General Motors, Trian Partners, Disney, ESPN, Wynn Resorts, Wynn, Vegas, Prix, Estée Lauder Companies, Caterpillar, McDonalds Corp, Allegiant Travel, Bowlero Corp, Tyson Foods, TSN, Air Products & Chemicals, IDEXX Laboratories, CNA Financial Corp, CNA, Timken Company, Graham Corporation, Mesa Laboratories, Sphere Entertainment, Loews Corp, Technologies, Vertex Pharmaceuticals, Semiconductors, Simon Property Group, Amkor Technology, FMC Corporation, FMC, BellRing Brands, Crown Holdings, ChampionX Corporation, Golub Capital BDC, Flexsteel Industries, Kilroy Realty Corp, Gladstone Capital Corp, Unibanco, S.A, Snack Foods Corp, Kimball Electronics, Skyline Corp, Cabot Corporation, Simpson Manufacturing Co, Varonis Systems, Co, GE HealthCare, Linde plc, LIN, Spotify Technology S.A, BP, Hertz Global Holdings, AeroSystems Holdings, Toyota Motor Corp, Cummins, CMI, Software Technologies, AGCO Corporation, Carrier Global Corporation, Lear Corp, CONSOL Energy, Centene Corporation, Gartner, Arcbest Corp, CTS Corporation, Energizer Holdings, Hamilton Lane Incorporated, KKR, Precision Drilling Corporation, Frontier Group Holdings, Waters Corp, Alfa Laval, Aramark Holdings Corp, FirstService Corporation, Garden Sports Corp, New Jersey Resources Corp, nVent Electric plc, PJT Partners, Resources, Sensata Technologies, Ford Motor Company, Enphase Energy, Grill, VF Corp, Edwards Lifesciences Corp, Gilead Sciences, Lumen Technologies, Cognizant Technology Solutions Corp, Weatherford International plc, Amcor plc, Arrowhead Pharmaceuticals, Advanced Energy Industries, Uber Technologies, CVS Health, Roblox Corporation, Ares Capital Corp, Bunge, XPO Logistics, Scotts Miracle, Gro Company, Berry Global, Flex LNG, Equinor ASA, Griffon Corporation, OneMain Holdings, Brookfield Asset Management, Emerson Electric Co, Hilton Worldwide Holdings, Reynolds Consumer Products, Silicon Laboratories, Brands, Sciences, CDW Corp, Fox Corporation, WYNN, PayPal, Arm Holdings plc, ARM, Axcelis Technologies, Mattel, Paycom, Annaly Capital Management, McKesson Corp, Health Corporation, O'Reilly Automotive, Allstate Corp, Fluence Energy, Power Systems, Digital Turbine, Blue Bird Corp, Everest Group, Omega HealthCare, Coty, COTY, ConocoPhillips, Cameco Corp, Philip Morris International, Spirit Airlines, Hershey Company, Lightspeed Commerce, Aurora Cannabis, Lincoln National Corp, P, Tenet Healthcare Corp, Asbury Automotive Group, Arrow Electronics, Baxter International, PetMed, Boyd Gaming Corp, FirstEnergy Corp, Motorola Solutions, Terex Corp, PepsiCo, Growth, AMC Networks, Owl, American Pipeline, TELUS International, Magna International, Newell Brands, Jim Cramer's Charitable, CNBC, Bloomberg, Getty Locations: U.S, China, Macau, Wynn Macau, Valvoline, VVV, ALFVY, Madison, New Jersey, Gilead, Ceridian, ORLY, Paycor, Aurora, Provo , Utah

LeBron James joined yet another exclusive club, and he’ll have plenty of familiar faces alongside him at the NBA All-Star Game. James is an All-Star — and an All-Star starter — for the 20th time, with the league unveiling the results of this season’s starter balloting on Thursday night. Durant is a 14-time selection now, one of only 11 players in NBA history to be picked that many times. Tatum set an All-Star Game record last season, scoring 55 points in Salt Lake City on the way to MVP honors. This year’s All-Star Game goes back to the traditional East-vs.-West format, which was utilized in the first 66 NBA midseason classics.

Persons: LeBron James, James, —, Kareem Abdul, Jabbar, Phoenix’s Kevin Durant, Denver’s Nikola Jokic, Dallas ’ Luka, Oklahoma City’s Shai Gilgeous, Alexander, Stephen Curry, Durant, Milwaukee’s Giannis Antetokounmpo, Boston’s Jayson Tatum, Philadelphia’s Joel Embiid —, Tatum, Milwaukee's Damian Lillard, “, ” Tatum, it’s, Curry, Boston's Jaylen Brown, York's Jalen Brunson, Atlanta's Trae, Cleveland's Donovan Mitchell, Miami's Bam Adebayo, Anthony Davis, Orlando's Paolo Banchero, Sacramento's De'Aaron Fox, Phoenix's Devin Booker, Kawhi Leonard, Philadelphia's Tyrese Maxey, Minnesota's Anthony Edwards, ” Haliburton, I’ve, ”, Antetokounmpo, ” Durant, Adam Silver, Gordie Howe, Hank Aaron, Willie Mays, Stan Musial, Howe, Aaron, Mays, Musial, Mickey Mantle, it’ll, SportsMediaWatch, ” Joe Dumars, ___ Organizations: NBA, Star, Western Conference, Golden State, Eastern Conference, Haliburton, TNT, Los Angeles Lakers, Los Angeles Clippers, NHL, Major League Baseball, Star Games, Kobe Bryant’s, League, TBS Locations: Indianapolis, Dallas, Dallas ’ Luka Doncic, Oklahoma, Salt Lake City, Miami, Indiana, Indy, U.S

☆ Salesforce CEO Marc Benioff tells retail workers: AI won't steal your job. It can make you better at it.
▼ + stars: | 2024-01-24 | by ( Ellen Thomas | ) www.businessinsider.com time to read: +2 min

Generative artificial intelligence won't take jobs from retail workers; instead, it will make them better at their jobs, Salesforce CEO Marc Benioff told attendees at the National Retail Federation's annual conference in New York last week. They're not going to need as many agents," Benioff said. The system was able to augment those agents and make them better," Benioff said. With generative AI, he added, Gucci had taken its customer service agents to "a whole other level." "They're pretty incredible people, using generative AI for the first time," Benioff said.

Persons: Marc Benioff, Benioff, NRF, John Furner, Loro Piana, Gucci —, They're, That's, bam, Gucci Organizations: Business, Walmart, LVMH, Gucci, Kering Locations: New York, Italy

“It is a privilege to select the team that will help us toward the goal of once again standing atop the Olympic podium. If he plays and the U.S. wins, Durant would be the first men’s player with four basketball golds. “I will play in the Olympics,” Durant adamantly said last fall at Phoenix’s media day. The other 28 players on the list are headlined by a pair who may make their Olympic debuts — Embiid and Curry among them. Players not in the pool aren’t exactly ineligible to make the Olympic team; while it is a long shot, it has happened before.

Persons: LeBron James, Joel Embiid, Stephen Curry, Kevin Durant, Draymond Green, Golden, Steve Kerr, Miami's Erik Spoelstra, Mark, Grant Hill, — Durant, James, Chris Paul, Anthony Davis, Bam Adebayo, Damian Lillard, Devin Booker, James Harden, Jayson Tatum, Jimmy Butler, Jrue, Kyrie Irving, Paul George, Durant, ” Durant, — Embiid, Curry, ” Curry, ” Embiid, Nick Nurse, Jarrett Allen, Paolo Banchero, Desmond Bane, Scottie Barnes, Mikal, Jaylen Brown, Jalen Brunson, Alex Caruso, Anthony Edwards, De’Aaron Fox, Aaron Gordon, Tyrese Haliburton, Josh Hart, Tyler Herro, Chet Holmgren, Brandon Ingram, Jaren Jackson Jr, Cam Johnson, Walker Kessler, Kawhi Leonard, Donovan Mitchell, Bobby Portis, Austin Reaves, Duncan Robinson, Derrick White, Trae Young, “, ”, Adebayo, ” Green, Green, Antonio’s Keldon Johnson, Gregg Popovich, Johnson, JaVale McGee, Bradley Beal, Kevin Love —, — Organizations: USA Basketball’s, Paris Olympics, U.S, Janeiro Games, USA Basketball, Los Angeles Clippers, NBA, ”, Philadelphia, France, ” 76ers, Golden State, Olympic, Tokyo Games, Spurs, AP Locations: USA, Paris, United, Cameroon, Mikal Bridges, Golden, paris

☆ How $21 billion Balyasny is building an AI equivalent of a senior analyst
▼ + stars: | 2024-01-22 | by ( Bianca Chan | ) www.businessinsider.com time to read: +6 min

Balyasny Asset Management is working to build the AI equivalent of a senior analyst by combining multiple different AI tools, the hedge fund's head of applied AI told Business Insider. Balyasny is working to plug BAM ChatGPT, as it's called, into every internal and third-party dataset at Balyasny. "We're pretty laser-focused right now to move from junior analysts to senior analysts," Flanagan said of the agents' abilities. AdvertisementCharlie Flanagan, head of applied AI, Balyasny Asset Management Balyasny Asset ManagementHedge funds are keen to capitalize on the AI wave sweeping up Wall Street. AdvertisementLooking ahead, Flanagan is encouraging analyst and PM teams to build their own "agents" using AI building blocks created by the Applied AI team.

Persons: we're, Charlie Flanagan, Flanagan, Slack, aren't, Goldman Sachs Organizations: Service, Balyasny, Management, Business, Microsoft, Software, Man, Sigma, Wall, Citadel, BAM, intel Locations: Bridgewater

☆ Clothes From the 2000s Are Vintage Now. For Some Shoppers, That’s Scary.
▼ + stars: | 2023-12-05 | by ( Jacob Gallagher | ) www.wsj.com time to read: 1 min

To collect vintage clothes is to know that one day, you’ll come across a shirt that will send you into an existential spiral. For me, that moment came last month, as I was tooling around eBay in search of aged band tees. The very same Green Day “American Idiot” shirt that I bought new as a sneering tween was now being sold as “vintage” for a not insignificant sum of $100. To see your childhood resold as vintage—could anything make you feel older than that? Mind you, I’m just 32.

Persons: you’ll, I’m Organizations: eBay Locations: Bam

☆ Brookfield’s energy M&A loss is teachable moment
▼ + stars: | 2023-12-04 | by ( ) www.reuters.com time to read: +2 min

MELBOURNE, Dec 4 (Reuters Breakingviews) - Brookfield Asset Management (BAM.TO), has some wounds to lick. On Monday the Canadian investment firm’s joint $13 billion offer with MidOcean Energy for Australian power generator and retailer Origin Energy (ORG.AX)failed after the bidders secured backing from 69% of voted shares, below the required 75% threshold. It could target smaller local energy firms, like Alinta Energy and EnergyAustralia, owned by Hong Kong-based Chow Tai Fook Enterprises and CLP (0002.HK) respectively. Brookfield has made other investments from its $15 billion global transition fund, including to co-buy Westinghouse Electric. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Persons: Bruce Flatt, Chow, Brookfield, Antony Currie, Neiman Marcus, Una Galani, Thomas Shum Organizations: MELBOURNE, Reuters, Brookfield Asset Management, MidOcean Energy, Origin Energy, Alinta, Chow Tai Fook Enterprises, CLP, HK, Westinghouse, X, Saks, Thomson Locations: Brookfield, Hong Kong

☆ Canada's Brookfield raises record $28 billion for infrastructure fund
▼ + stars: | 2023-12-01 | by ( ) www.reuters.com time to read: +2 min

Dec 1 (Reuters) - Canada's Brookfield Asset Management (BAM.TO) said on Friday it had raised $28 billion for its largest-ever fund, wagering on infrastructure assets the company believes would benefit from a shift to "deglobalization", given recent geopolitical tensions. Brookfield said the fund has already deployed 40% of its capital in six investments including renewable, transport, data center and telecom tower assets. The company, which manages over $850 billion in assets, said it had also raised $2 billion for related co-investment vehicles. Besides "deglobalization", Brookfield's latest fund will also focus on infrastructure assets tied to digitalization and decarbonization, the company said. The company had raised $20 billion for its previous global infrastructure fund in 2020.

Persons: Brookfield, Niket, Pooja Desai Organizations: Brookfield Asset Management, Thomson Locations: Brookfield, Ukraine, Bengaluru

President of the United Arab Emirates Sheikh Mohamed bin Zayed Al Nahyan attends the United Nations Climate Change Conference (COP28) in Dubai, United Arab Emirates, December 1, 2023. REUTERS/Amr Alfiky Acquire Licensing RightsDUBAI, Dec 1 (Reuters) - United Arab Emirates President Sheikh Mohammed Bin Zayed Al Nahyan, whose country is hosting the COP28 climate summit, announced on Friday the establishment of a $30 billion climate fund that aims to attract $250 billion of investment by the end of the decade. Dubbed ALTÉRRA, the fund will allocate $25 billion towards climate strategies and $5 billion specifically to incentivise investment flows into the Global South, according to a statement by the COP28 Presidency. ALTÉRRA has also committed to invest $2 billion into its second Brookfield Global Transition Fund. ALTÉRRA was established by Lunate, a newly set up Abu Dhabi-based alternative investment manager with over $50 billion in assets.

Persons: United Arab Emirates Sheikh Mohamed bin Zayed Al Nahyan, Amr Alfiky, Sheikh Mohammed Bin Zayed Al Nahyan, ALTÉRRA, BlackRock, Abu, Sheikh Tahnoon bin Zayed Al Nahyan, William James, Nadine Awadalla, Al Sayegh, Tommy Reggiori Wilkes, Susan Fenton, Sharon Singleton, Miral Organizations: United, United Nations, Change, United Arab Emirates, REUTERS, Rights, BlackRock, TPG, Brookfield Asset Management, Transition, Lunate, Chimera Investment, Reuters, Thomson Locations: United Arab Emirates, Dubai, United Arab, COP28, Brookfield, Abu Dhabi, UAE

MIAMI (AP) — Giannis Antetokounmpo scored 33 points, Damian Lillard added 32 and the Milwaukee Bucks rallied in the fourth quarter to beat the Miami Heat 131-124 on Tuesday night and clinch a home quarterfinal game in the NBA In-Season Tournament. Khris Middleton scored 17, Malik Beasley had 16 and Brook Lopez added 12 for the Bucks, who won East Group B with a 4-0 record. Bam Adebayo scored 31 points for the Heat, who got 21 from Kyle Lowry and 20 from Josh Richardson. Jaime Jaquez Jr. and Caleb Martin each scored 14 and Duncan Robinson added 13 for the Heat. Political Cartoons View All 1270 ImagesThe Bucks lost Pat Connaughton to a sprained right ankle late in the second quarter.

Persons: — Giannis Antetokounmpo, Damian Lillard, Khris Middleton, Malik Beasley, Brook Lopez, Bam Adebayo, Kyle Lowry, Josh Richardson, Jaime Jaquez Jr, Caleb Martin, Duncan Robinson, Jimmy Butler, Haywood Highsmith, Butler, Pat Connaughton, Lowry, Lillard, Richardson, Erik Spoelstra, ___ Organizations: MIAMI, Milwaukee Bucks, Miami Heat, NBA, Bucks, East Group, Boston, Indiana, Heat, Miami, Los Angeles Clippers, Orlando, Bulls, Clippers, Milwaukee Locations: York, Las Vegas, Miami’s, Miami, Chicago

☆ How Dmitry Balyasny's $21 billion hedge fund is looking to get ahead in the war for investment talent
▼ + stars: | 2023-11-28 | by ( Michelle Abrego | ) www.businessinsider.com time to read: +6 min

One firm he was considering stood out to him: Dmitry Balyasny's namesake hedge fund and its program for up-and-coming portfolio managers, Anthem. Hedge funds are finding that to win the talent wars, it's not enough to have deep pockets to attract portfolio managers. He said that in the past year, $21 billion Balyasny had hired 40 portfolio managers. Its global equities head left in October, as did several other portfolio managers . They operate within a risk framework that is tighter than that imposed on veteran portfolio managers at the firm.

Persons: Sebastiaan De Boe, Dmitry Balyasny's, De Boe, Balyasny, It's, quants, Bridger, it's, they're, Bill Wappler, Wappler, Steve Cohen's Point72, They're, who've, who's, Seb Organizations: Citadel, Business, BAM, Kids Investors Conference, Millennium Management, Equity, Balyasny Asset Management, Balyasny, London Business School Locations: Toronto, Chicago, multistrategy, quant, Europe, London

☆ NBA roundup: 76ers end Thunder's 6-game win streak
▼ + stars: | 2023-11-26 | by ( ) www.reuters.com time to read: +4 min

Embiid returned after missing Wednesday's loss to Minnesota with hip soreness, helping the 76ers snap a two-game losing streak and end the Thunder's six-game winning streak. Kyle Kuzma finished with 12 points and added team-highs of eight assists and seven rebounds. Lakers 121, Cavaliers 115Anthony Davis had 32 points and 13 rebounds to help visiting Los Angeles to a win against Cleveland. Los Angeles also received solid bench contributions, as Austin Reaves had 15 points and 10 assists, Christian Wood scored 13 points and Jaxson Hayes added 10 points. Zion Williamson, who led the Pelicans to a road win over the Los Angeles Clippers late Friday night, continued his pattern of sitting out the second night of back-to-back sets.

Persons: Joel Embiid, Cason Wallace, Alonzo Adams, Tyrese Maxey, Embiid, Chet Holmgren, Shai Gilgeous, Alexander, Holmgren, Trae Young, De'Andre Hunter, Young, Jared Butler's, Kyle Kuzma, Bridges, Cameron Johnson, Bam Adebayo, Jimmy Butler, Haywood Highsmith, Jamal Cain, Caleb Martin, Jaime Jaquez Jr, Anthony Davis, LeBron James, Max Christie, D'Angelo Russell, Angeles, Austin Reaves, Christian Wood, Jaxson Hayes, Donovan Mitchell, Jarrett Allen, Evan Mobley, Cleveland, Georges Niang, Craig Porter, Collin Sexton, Keyonte George, Kelly Olynyk, Zion Williamson, Paul George, Terance Mann, Norman Powell, Russell Westbrook, Ivica Zubac, Luka Doncic, Kyrie Irving, Tim Hardaway Jr Organizations: Philadelphia 76ers, Oklahoma City Thunder, Paycom Center, USA, 76ers, Thunder, Atlanta, Washington, Hawks, Seven Washington, Nets, Brooklyn, Miami, The Nets, Lakers, Cavaliers, Cleveland, Jazz, Pelicans, New Orleans, Utah, Los Angeles Clippers, Clippers, Mavericks, Dallas, Los, Thomson Locations: Oklahoma City , Oklahoma, USA, Minnesota, New York, Los Angeles, Utah, Salt Lake City

☆ NBA roundup: Balanced scoring lifts Bucks past Wizards
▼ + stars: | 2023-11-25 | by ( ) www.reuters.com time to read: +7 min

Magic 113, Celtics 96Orlando turned in a dominant second half and extended its winning streak to six games by beating visiting Boston in an NBA in-season tournament game. Suns 110, Grizzlies 89Devin Booker scored a season-high 40 points to fuel visiting Phoenix to a victory over Memphis in an NBA in-season tournament game. Knicks 100, Heat 98RJ Barrett converted a go-ahead, three-point play with 1:59 left for host New York, who stormed back from a 21-point, third-quarter deficit to beat Miami in an NBA in-season tournament game. Raptors 121, Bulls 108OG Anunoby scored 26 points and Toronto defeated visiting Chicago in an NBA in-season tournament game. Indiana, which had already clinched a spot in the quarterfinals of the NBA in-season tournament, finished the East Group A stage with a 4-0 record.

Persons: Brook Lopez, Paul Rutherford, Giannis Antetokounmpo, Damian Lillard, Lopez, Jordan, Kyle Kuzma, Tyus Jones, Corey Kispert, Antetokounmpo, Washington's Landry, Green, Alperen Sengun, Justin, Sengun, Jabari Smith, Fred VanVleet, Nikola Jokic, Kentavious Caldwell, Pope, Orlando, Mo Wagner, Paolo Banchero, Jayson Tatum, Devin Booker, Booker, Eric Gordon, Kevin Durant, Bradley Beal, Santi Aldama, Derrick Rose, RJ Barrett, Jalen Brunson, Immanuel Quickley, Bam Adebayo, Jimmy Butler, Anunoby, Dennis Schroder, Pascal Siakam, Zach LaVine, DeMar DeRozan, DeRozan, Myles Turner, Buddy Hield, Cade Cunningham's, Jadey Ivey, Jalen Duren, De'Aaron Fox, Harrison Barnes, Malik Monk, Sabonis, Anthony Edwards, Karl, Anthony Towns, Rudy Gobert, Stephen Curry, Dario Saric, Victor Wembanyama, Zion Williamson, Brandon Ingram, Paul George, Kawhi Leonard, Norman Powell Organizations: Milwaukee, Boston Celtics, TD Garden, USA, Milwaukee Bucks, Washington Wizards, Bucks, Washington, Jordan Poole, Nuggets, Houston, Denver, NBA, Celtics, Boston, Orlando, East Group, Suns, Grizzlies, Memphis, Knicks, New, Miami, New York, Raptors, Bulls, Toronto, Chicago, Pacers, Pistons, Tyrese Haliburton, Indiana, Detroit, Jalen, Timberwolves, Sacramento, Minnesota, West Group, Kings, Warriors, Spurs, Golden State, Group, Pelicans, Clippers, New Orleans, Los, Dallas, Thomson Locations: Boston , Massachusetts, USA, Milwaukee Bucks, Denver, Phoenix, Memphis, New York, Toronto's, Indianapolis, Indiana, Minneapolis . Sacramento, Minnesota, San Antonio, San Francisco, Sacramento, Los Angeles, New Orleans

REUTERS/David Gray Acquire Licensing RightsSYDNEY, Nov 24 (Reuters) - The long-term value of hotly contested $10.6 billion takeover target Origin Energy (ORG.AX) has been muddied by a government plan to accelerate the rollout of renewable energy, announced just hours before a key shareholder vote. However, the potential for new investment via the government's scheme undercuts Brookfield's argument that Origin and Australia needed its deep pockets to decarbonise quickly, Vickerson said. Pension giant AustralianSuper has argued Origin's stake in fast-growing British renewable energy company Octopus Energy, gas assets and millions of customers position the company well for the energy transition. The government's new scheme only strengthens the fund's conviction about Origin, according to a person familiar with AustralianSuper's thinking. However, Simon Mawhinney, chief investment officer at fund manager Allan Gray, which owns a roughly 3% stake in Origin, said the government's plan appears likely to push down returns.

Persons: David Gray, AustralianSuper, Max Vickerson, Vickerson, Brookfield, Tom Leske, Simon Mawhinney, Allan Gray, Lewis Jackson, Sonali Paul Organizations: REUTERS, Rights, Energy, Morgans, Origin, AGL Energy, Churchill Capital, Octopus Energy, Thomson Locations: Sydney, Chatswood, Australia, Brookfield

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