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☆ How one rising Miami VC raised more money for his first fund. Other emerging investors haven't been so lucky.
▼ + stars: | 2024-05-16 | by ( Vishal Persaud | ) www.businessinsider.com time to read: +7 min

Evans is the founder of Exceptional Capital, which launched in 2022 among the many emerging VC firms that sprouted during the fundraising boom years. Before pursuing a life in venture capital and tech, Evans hoped to make it to the NFL as a linebacker at the University of Michigan. And then in 2022, Evans decided to launch Exceptional Capital and invest as a solo VC. Exceptional CapitalBecause he's been able to increase the size of his fund, Evans has been able to expand his team. "I could see that for Marell as well, just his work with Exceptional Capital and kind of his determination there."

Persons: —, Marell Evans, Evans, he's, Dave Brandon, Brandon, Ben Horowitz, Andreessen Horowitz, Horowitz, A16z, Okta, Owen Van Natta, Hustling, Melissa Morano Aurigemma, Graham Stoddard, Andrew Van Nest, I've, Cody Coleman, Coleman, what's Organizations: Service, Exceptional, Business, NFL, University of Michigan, NCAA, IBM, Facebook, Vision, SV Angel, A16z, Exceptional Capital Locations: Miami, Michigan, San Francisco, Okta, Silicon Valley, SoftBank, —, Bessemer

☆ Reddit users are questioning if it's really Keith Gill behind the memes that sparked the latest GameStop rally
▼ + stars: | 2024-05-16 | by ( Matthew Fox | ) www.businessinsider.com time to read: +4 min

Reddit users this week have been questioning whether Keith Gill was behind Roaring Kitty's recent social media posts. The Roaring Kitty X account started tweeting for the first time in three years on Sunday, sparking a revival in GameStop stock. Reddit users have been speculating and debating the question since Gill's @TheRoaringKitty X account made its first post in three years on Sunday. AdvertisementGill did not reply to a request for comment sent by Business Insider via his other social media accounts. I'm sure we'll the the truth of the matter of who's running the account soon enough," another Reddit user said.

Persons: Keith Gill, Kitty, —, Gill, wasn't, @SCHL0MS, Polymarket, It's, Steve Sosnick Organizations: GameStop, YouTube, Service, Lamborghini, Google, Business, Polymarket, Remilia Corporation, Remilia, Interactive Locations: @TheRoaringKitty

☆ Forget the Magnificent Seven. These AI plays are red hot
▼ + stars: | 2024-05-16 | by ( Krystal Hur | ) edition.cnn.com time to read: +6 min

The S&P 500’s utility sector has gained 14% this year, making it the third-best-performing category behind information technology and communication services. Utility stocks tumbled more than 10% in 2023, underperforming the S&P 500’s 24% gain, as investors betting on the artificial intelligence boom crowded into the Magnificent Seven big tech stocks. To be sure, not everyone is jumping into utility stocks. Rising gasoline and shelter costs accounted for more than 70% of the monthly increase in overall inflation, according to the report. Including the ticket price, UK concertgoers will spend, on average, £848 ($1,068) each, which is more than 12 times the average cost of a night out in the UK, according to Barclays’ research.

Persons: ”, Adam Turnquist, Alicia Wallace, Wednesday’s, Read, Taylor Swift’s, Anna Cooban, Swift Organizations: CNN Business, Bell, New York CNN, Constellation Energy, NRG Energy, International Energy Agency, Federal Reserve, LPL, Nvidia, Micro, Bureau of Labor Statistics, CPI, Barclays, Barclays ’ Locations: New York, United Kingdom, United States, England, Wales, Scotland

☆ Stanley Druckenmiller built a big bullish position in small-cap stocks last quarter
▼ + stars: | 2024-05-16 | by ( Yun Li | ) www.cnbc.com time to read: +2 min

Billionaire investor Stanley Druckenmiller revealed a big bullish position in small-cap stocks last quarter, according to a new regulatory filing. A call option gives an investor the right to buy an asset at a specified — or strike — price within a certain period. As of the end of March, Druckenmiller owned 31,579 call contracts with unknown value, strike price or expiry, according to the filing. The noted investor also took some profit in his big Nvidia bet last quarter by slashing the stake by more than 70%. Other than these changes, Druckenmiller added a sizable stake in semiconductor name Coherent , making it his eighth-biggest holding.

Persons: Stanley Druckenmiller, Russell, Druckenmiller, We've, I'm, Warren Buffett, George Soros Organizations: Duquesne Family Office, U.S . Securities, Exchange, Nvidia, CNBC, Quantum Fund, Duquesne Capital Management Locations: Duquesne

AdvertisementWarning: Spoilers for the first four episodes of "Bridgerton" season 3 and the book "Romancing Mr. Bridgerton" ahead. AdvertisementHannah Dodd as Francesca Bridgerton on season three, episode two of "Bridgerton." Season 3 should've built on 'Queen Charlotte' moreQueen Charlotte and Lady Danbury are underutilized so far in season three. Cressida's story is one of the best parts of the season so farCressida Cowper is given more depth in "Bridgerton" this season. "Bridgerton" season three, part two premieres June 16 on Netflix.

Persons: —, Caralynn Matassa, Palmer Haasch, Adekaiyero —, Bridgerton, Penelope, Colin, schtick, Luke Newton doesn't, Luke, Caralynn, Jonathan Bailey, Palmer, that's, I'm, Eloise, Cressida, Debling, Lord Debling doesn't, Polin, they've, he's, Liam Daniel, Netflix Palmer, — they're, Kanthony, Anthony, Kate, Anthony didn't, Daphne, Simon, Benedict whoring, Benedict, Lady Tilley Arnold, Lady Tilley, Francesca, John, Kilmartin, Hannah Dodd, Francesca Bridgerton, Fran, Hannah, Violet, Claudia Jessie, I've, Charlotte, Lady, Laurence Cendrowicz, Lady Danbury, Queen Charlotte, Golda Rosheuvel, they'd, Danbury, Lord Marcus, Lady Danbury haven't, Lady Featherington, Lord Debling, Featherington, Polly Walker, it's, Will Mondrich, Mondrich, Jean Page's, Alice, Will, doesn't, Cressida Cowper, Lady Whistledown, we've Organizations: Service, Business, —, Netflix Locations: Polin's, Lady Danbury, Queen, Lady, India

☆ Neither Russia nor China wants the Ukraine war to end, but for different reasons
▼ + stars: | 2024-05-16 | by ( Huileng Tan | ) www.businessinsider.com time to read: +5 min

Read previewRussian President Vladimir Putin is on a two-day visit to China, and he's bringing along a large trade delegation. But Russia has also become increasingly reliant on China since it started the war in Ukraine. For instance, Russia is now "exporting raw materials to China while China sends finished goods, especially cars, to Russia — the latter at the expense of Russia's indigenous auto industry," she added. However, some analysts say China has more to gain from a continuing war. China and Russia are forging a partnership increasingly reminiscent of a great power alliance," wrote Michta.

Persons: —, Vladimir Putin, It's, Putin, Xi —, Michta, Russia —, Europe —, China's Organizations: Service, Business, Center for, Bilateral, West, Center, Global Energy, Columbia University, Kyiv —, US Army Locations: China, Russia, Ukraine, Moscow, Siberia, Europe, Beijing

☆ Financial advisors don't need to fear artificial intelligence, Betterment’s Thomas Moore says
▼ + stars: | 2024-05-15 | by ( Kiley Lambert | ) www.cnbc.com time to read: +5 min

We heard that from a lot of financial advisors that are now our customers. The financial advisor space is growing now as much as it ever has, alongside the growth of the robo. A word we use a lot to describe the challenges in the financial advisor landscape is inertia. KL: Where are you seeing the most growth right now in your advisor business? KL: What do you see on the horizon in the financial advisor space?

Persons: Greg Hinsdale, Thomas Moore's, Moore, Kiley Lambert, Let's, Thomas Moore, that's, Charles ] Schwab, Ameritrade, That's, we've Organizations: Bank, Getty, Mangers Group, SEI, Vanguard Group, CNBC, Summit, Opportunity

☆ Why you don't really want Big TV to bring back 'the bundle' for your streaming services like Hulu, Max, and Netflix
▼ + stars: | 2024-05-15 | by ( Peter Kafka | ) www.businessinsider.com time to read: +5 min

— pine for the good ol' days of the TV bundle. Like cable TV." The old-timey bundle was also a prerequisite for some things you might want, like HBO or Showtime. And now, let's talk about the new-fangled bundle, which isn't the bundle you're thinking of. They're going to find ways to cut costs wherever they can, and that most certainly includes programming.

Persons: I'm, Discovery, Max, Rupert Murdoch's, They're, Brian Roberts Organizations: Service, Business, Big Media, Disney, Warner Bros, Comcast, Netflix, Apple, Big TV, ESPN, TCM, Fox News, HBO, Showtime, Warner, Discovery Locations: Hulu

During the pandemic, mortgage rates reached historic lows. HELOC rates have generally remained between 8.16% and 8.59% this year, depending on the term length of the loan. Check out our current HELOC rates page to see the latest rates. To find out the maximum amount you could borrow with a HELOC, multiply your home's current value by your HELOC lender's maximum CLTV. For example, Boyd says that some HELOC lenders can take 50 days or more to close.

Persons: HELOCs, you'll, Adam Boyd, Boyd, You'll Organizations: Bank, Citizens Locations: U.S

☆ Dell surges 9% on optimism it has secured big AI server orders
▼ + stars: | 2024-05-15 | by ( Kif Leswing | ) www.cnbc.com time to read: +3 min

Dell is seeing accelerating momentum, especially in winning business to build AI servers, unlocking a new bull case for the stock, Morgan Stanley analyst Erik Woodring wrote in a note on Wednesday. "All-in, we are hearing about more AI server momentum at Dell than at any other OEM," Woodring wrote, saying that he expected about $10 billion of AI server revenue in the company's fiscal 2025 — ending next February. Most AI servers are built around Nvidia's chips which have become prized in the technology industry because they are used to build and deploy advanced AI models from companies like Google , OpenAI and Meta . Dell sells servers using the newest Nvidia AI chips, including its H100 GPU and the latest Blackwell-generation chips. But the PC industry is on course to grow again and is outperforming lowered expectations, Woodring wrote, which will benefit Dell.

Persons: Michael Dell, Morgan Stanley, Erik Woodring, Woodring, Wednesday's, Jensen Huang, Huang, Michael, Dell Organizations: Dell Technologies, Mobile, Dell, Hewlett Packard Enterprise, Google, Meta, Blackwell, Nvidia, Microsoft Locations: Barcelona, Spain

☆ A stock trader who consistently beats the S&P 500 and returned 118% in his best year shares how he's investing his money in 2024 — and what ETF he would add to his portfolio if he was a 'set and forge
▼ + stars: | 2024-05-15 | by ( Kathleen Elkins | ) www.businessinsider.com time to read: +6 min

Courtesy of Erik SmolinskiHe says he has a long position in iShares Russell 2000 ETF (ETF, IWM) and iShares 20+ Year Treasury Bond (ETF, TLT). AdvertisementThe portfolio addition for the hands-off investor: the iShares Russell 2000 ETFSmolinski recognizes that, as an investor, he's "more active than I imagine most people want to be." For the everyday investor who wants to be more hands-off, he recommends buying the iShares Russell 2000 ETF. This investment tracks the Russell 2000 Index, which measures the performance of small caps. That would be the next expression, so: looking at strong sectors, strong sub-sectors, then finding the leading stocks within those strong performing sub-sectors."

Persons: —, Erik Smolinski, he's, Smolinski, He's, Russell Organizations: Service, Business, Marine, Treasury Bond, Nasdaq Locations: California, Norway, iShares Russell

☆ Copper futures hit record high as data center build-up, EV growth fuels demand
▼ + stars: | 2024-05-15 | by ( Lee Ying Shan | In Ying-Shan-Lee | ) www.cnbc.com time to read: +2 min

Copper futures hit a record high on Wednesday as demand for the base metal stays strong amid a rush to build data centers and the continued electrification of the global economy. It is integral to manufacturing electric vehicles, power grids and wind turbines, especially as the global economy electrifies. The International Energy Agency is expecting power demand from data centers to more than double to over 1000 terawatt-hours (TWh) in 2026 from 460 TWh in 2022. Copper production growth forecast for 2024 has been cut to 0.5% compared with a 3.7% growth estimated by ICSG last October 2023. Anglo American, a major producer, said it would cut copper output in 2024 and 2025 as it seeks to cut costs.

Persons: ICSG Organizations: Aurubis, Bank of America, International Energy Agency, Study, Quantum Minerals, Citi, London Metals Exchange Locations: Hamburg, Germany

☆ Blue-collar jobs are booming. White-collar jobs, not so much.
▼ + stars: | 2024-05-15 | by ( Juliana Kaplan | ) www.businessinsider.com time to read: +14 min

Now, she told me, blue-collar work is an oasis in the fake-email-job desert, with a newfound social cachet. In a survey conducted in late 2021, 67% of blue-collar workers said they believed the pandemic changed how people viewed their jobs, and 75% of white-collar workers agreed. AdvertisementNow, the economy is adding blue-collar jobs at a rapid clip. There is a tendency — particularly among white-collar workers — to look at blue-collar work through rose-colored glasses, to romanticize the hard work and skills it requires. The labor market hasn't completely reversed course; blue-collar jobs may be booming, but a bachelor's degree is still often a prerequisite for roles with high pay and numerous benefits.

Persons: Alyssa DeOliveira, didn't, DeOliveira, Chris Collins, Collins, Steven Kurutz, influencers, Eames, Bernie Sanders, Elise Gould, she's, it's, moratoriums —, Gould, Frankie Giambrone, Giambrone, Biden, Lael Brainard, Scott Gove, Michael Kaye, Gove, there's, he's, Sam Pillar, Jeff Goldalian Organizations: Walmart, UPS, Business, The New York Times, Economic, Bureau of Labor Statistics, National Economic Council, Teamsters Union, United Auto Workers, Teamsters Locations: Boston, Tennessee, New York City

☆ Is meme trading back? These 4 stocks could benefit from a retail investor boom
▼ + stars: | 2024-05-15 | by ( Ganesh Rao | ) www.cnbc.com time to read: +5 min

Whether retail investors profit from their bets on GameStop and AMC Entertainment or not, one group of companies looks set to cash in from the frenzied trading: stock exchanges. So-called meme stocks, which gained popularity through social media platforms like Reddit and Twitter (or X), have attracted retail investors looking to make a quick profit. Through this new innovative offer, we will offer retail investors a true one-stop-shop experience for equity trading," he said in May 2023. "The rise of retail options trading is another secular trend we're excited to build on with more platforms coming online for index options trading later this year, giving retail investors expanded access to our products," Howson said on an earnings call to analysts this month. ICE, which owns the New York Stock Exchange and several other exchanges, offers trading in stocks, bonds, commodities, currencies and derivatives.

Persons: Eric Leupold, Deutsche Boerse, Benjamin Goy, Stéphane Boujna, FactSet, David Howson, Howson, Oppenheimer, Hannah Gooch, Peters, Marco Iachini , Organizations: GameStop, AMC Entertainment, Twitter, Deutsche Borse AG Deutsche Börse, Frankfurt Stock Exchange, Corona, Deutsche Börse, DB1, Deutsche Bank, Global Equity, Cboe, Wall Street, Intercontinental Exchange, Sanlam Investments, ICE, New York Stock Exchange, Vanda Locations: Germany, U.S, Switzerland, Italy, Amsterdam, Brussels, Dublin, Lisbon, Milan, Oslo, Paris, France, Portugal, Europe

☆ The Old-Fashioned Library at the Heart of the A.I. Boom
▼ + stars: | 2024-05-15 | by ( Cade Metz | Christie Hemm Klok | ) www.nytimes.com time to read: 1 min

The two-story library has Oriental rugs, shaded lamps dotting its desks and rows of hardbacks lining its walls. It is the architectural centerpiece of the offices of OpenAI, the start-up whose online chatbot, ChatGPT, showed the world that machines can instantly generate their own poetry and prose. The building, which was once a mayonnaise factory, looks like a typical tech office, with its communal work spaces, well-stocked micro-kitchens and private nap rooms spread across three floors in San Francisco’s Mission District. But then there is that library, with the ambience of a Victorian Era reading room. Its shelves offer everything from Homer’s “The Iliad” to David Deutsch’s “The Beginning of Infinity,” a favorite of Sam Altman, OpenAI’s chief executive.

Persons: “, David Deutsch’s “, Sam Altman Organizations: Francisco’s Mission Locations: OpenAI, Francisco’s

☆ 14 analysts upgraded this global AI chip stock in the past 2 weeks
▼ + stars: | 2024-05-14 | by ( Weizhen Tan | ) www.cnbc.com time to read: +3 min

There's been so much love for one global chip stock that as many as 14 analysts upgraded it in the past two weeks. Based on a CNBC Pro FactSet screen, 14 analysts upgraded the stock in the past two weeks, and none downgraded it. Those covering the stock say they are optimistic in light of AI demand, among other factors. This "inefficiency" has been estimated to likely create an additional ~10% in equipment demand over time," Kim added. When it comes to AI, Kim also said that each large language model upgrade cycle requires roughly 100 times more in compute capacity upgrades.

Persons: There's, That's Taiwan's, Phelix Lee, Lee, Dan Kim, Kim, FactSet, TSMC Organizations: Taiwan Semiconductor Manufacturing Company, Nvidia, CNBC, Morningstar, Saturna Locations: U.S, China, Taiwan

☆ AI boom to keep supply of high-end memory chips tight this year, analysts warn
▼ + stars: | 2024-05-14 | by ( Sheila Chiang | In Sheilachiang | ) www.cnbc.com time to read: +2 min

Photographer: SeongJoon Cho/Bloomberg via Getty ImagesHigh-performance memory chips are likely to remain in tight supply this year, as explosive AI demand drives a shortage for these chips, according to analysts. "We expect the general memory supply to remain tight throughout 2024," Kazunori Ito, director of equity research at Morningstar said in a report last week. The demand for AI chipsets has boosted the high-end memory chip market, hugely benefiting firms such Samsung Electronics and SK Hynix, the top two memory chipmakers in the world. High-performance memory chips play a crucial role in the training of large language models (LLMs) such as OpenAI's ChatGPT, which led AI adoption to skyrocket. HBM's production cycle is longer by 1.5 to 2 months compared with DDR5 memory chip commonly found in personal computers and servers, market intelligence firm TrendForce said in March.

Persons: SeongJoon Cho, Kazunori Ito, Morningstar, William Bailey, TrendForce Organizations: Samsung Electronics Co, Galaxy, Bloomberg, Getty Images, SK Hynix, Micron, Samsung Electronics, Nvidia, Samsung, Nasdaq Locations: Seoul, South Korea

☆ Reddit shares close near record after two-day rally driven by meme stocks
▼ + stars: | 2024-05-14 | by ( Ashley Capoot | In | ) www.cnbc.com time to read: +1 min

Traders work as Reddit's logo is displayed, at the New York Stock Exchange (NYSE) in New York City, U.S., March 21, 2024. Reddit shares popped 7% on Tuesday, climbing for a second straight day after retail traders kicked off a buying frenzy of so-called meme stocks. The stock closed at $62.34, Reddit's second-highest close since its IPO in March. The rally began Monday when "Roaring Kitty," aka Keith Gill, the man who inspired meme stock mania in 2021, resurfaced online, sending shares of GameStop and AMC soaring. Other stocks that have been bunched in with the meme group rose, including BlackBerry , Koss and SunPower .

Persons: Reddit's, Keith Gill, Gill, Reddit Organizations: New York Stock Exchange, GameStop, AMC, BlackBerry Locations: New York City, U.S

☆ Stripe: 2024 CNBC Disruptor 50
▼ + stars: | 2024-05-14 | by ( Cnbc.Com Staff | ) www.cnbc.com time to read: +1 min

It hasn't emerged unscathed, seeing its private valuation cut sharply during the startup crash. Stripe was valued at $65 billion as of the tender offer it completed in February, an increase from its last private valuation of $50 billion – albeit still far from its high of $95 billion in 2021. In its annual letter published in March, Stripe revealed that it surpassed $1 trillion in total payment volume in 2023, up 25% from 2022. "Stripe's business is the healthiest it's ever been," president and co-founder John Collison told CNBC in April. Stripe says it's also benefiting from a new wave of optimism in Silicon Valley, even if it isn't primarily an AI company.

Persons: hasn't, John Collison, We're, it's, disruptors OpenAI Organizations: PayPal, CNBC Locations: Silicon Valley

☆ Here are Tuesday's biggest analyst calls: Apple, Nvidia, Amazon, Tesla, Seagate, Boston Beer, Planet Fitness & more
▼ + stars: | 2024-05-14 | by ( Michael Bloom | ) www.cnbc.com time to read: +6 min

Wells Fargo reiterates Nvidia as overweight Wells increased its price target on Nvidia to $1,150 per share from $970. Jefferies upgrades Boston Beer to buy from hold Jefferies said in its upgrade of the beverage company that it sees "multiple expansion." Bank of America reiterates Apple as buy Bank of America said it's sticking with its buy rating on shares of Apple. JPMorgan upgrades Planet Fitness to overweight from neutral JPMorgan said in its has increased confidence in Planet Fitness' growth. JPMorgan upgrades Vtex to overweight from neutral JPMorgan said it sees an attractive entry point for the software-as-a-service company.

Persons: Tesla, Goldman Sachs, Goldman, it's, Wells, ests, Jefferies, Beer, Roth, Morgan Stanley, GXO's, Baird, Oppenheimer, Edwards Organizations: Barclays, Oncology, Fulcrum Therapeutics, ISI, Nvidia, Jefferies, Boston Beer, GXO Logistics, Bank of America, Apple, HSBC, Citi, Weatherford, Energy, JPMorgan, LT, Fortrea Holdings, Edison International, RBC, North, Deutsche Bank, Amazon, Deutsche, Western Digital, Seagate Locations: China, North America

☆ These are the new meme stocks getting the most buzz on message boards
▼ + stars: | 2024-05-14 | by ( Yun Li | ) www.cnbc.com time to read: +2 min

Meme stocks are back, and the mania is actually spreading far beyond GameStop and AMC Entertainment . The latest frenzy was triggered by a single post on social media site X from "Roaring Kitty," the man who inspired the epic meme stock mania in 2021. Quiver Quantitative , an alternative data analytics firm, looked to find all the meme stocks that are popular among the Reddit traders. A few names associated with the artificial intelligence boom also became popular meme stocks, including voice AI and speech recognition company SoundHound AI , AI IT services firm BigBear.ai and Super Micro Computer , a maker of servers. Other under-the-radar meme names included B. Riley Financial, Spirit Airlines , Tilray Brands and Smart for Life.

Persons: Smart, Riley Organizations: GameStop, AMC Entertainment, Marathon Digital, IT, Micro, Nvidia, Riley, Spirit Airlines, Tilray

But while the company's profile in the industry has stayed constant and swaggering, behind the curtain, its business has been increasingly troubled, 10 insiders told Business Insider. Creator economy professionals mingled beneath glowing jellyfish and coral light fixtures inside Jellysmack's creator lounge during VidCon 2023. "As a startup in the ever-evolving creator economy, we are constantly testing and adapting our business model," the Jellysmack spokesperson told BI in a statement. Advertisement"The world was falling apart with the pandemic, but early Jellysmack felt like a dream," the second former staffer told BI. BI viewed two Jellysmack contracts and an email exchange between Jellysmack and one of its creator clients to verify the practice.

Persons: —, SoftBank, lanyards, Jellymack, Jellysmack, YouTubers, Brad Mondo, Meta, Michael Philippe, Jellysmack cofounders Swann Maizil, Robin Sabban, Nathan Guetta, Condé Nast, Youri Hazanov, Sean Atkins, hasn't, Snapchat —, Amanda Perelli, JellyFi, deprioritize, that's, it's, Ollie Forsyth, They've Organizations: Service, Business, Facebook, influencers, BI, YouTube, Disney, Comcast, Keli, Big Tech, cryptocurrency, MTV, HBO, Copyright Capital, SoftBank, Productions, OKA Media, Network Media LLC, Crime, Star, Spotify, Crime Network Locations: VidCon, SoftBank

☆ U.S. energy panel approves rule to expand transmission of renewable power
▼ + stars: | 2024-05-14 | by ( ) www.cnbc.com time to read: +6 min

Republican Mark Christie opposed the rule, dismissing it as a gift to solar and wind power operators. Many power companies and Republican-led states don't want to spend money on new transmission lines or upgrades for renewable energy, creating conflicts with Democratic states that have ambitious clean-energy goals. The rule is intended to streamline how power lines are sited and how costs are shared between states. It could accelerate construction of new transmission lines for wind, solar and other renewable power and add huge amounts of clean energy to the grid. The new rule "will improve regional transmission planning, break down barriers to grid buildout and support the delivery of more affordable and reliable power,″ Zaidi said.

Persons: Joe Biden's, Willie Phillips, Allison Clements, Republican Mark Christie, Phillips, Christie, ″, Biden, Ali Zaidi, ″ Zaidi, Clements, Heather O'Neill, Chuck Schumer, Schumer Organizations: Federal Energy Regulatory Commission, Democratic, Republican, Energy Department, FERC, Advanced Energy Locations: Washington, U.S

☆ China drives EV boom this year amid strong demand for hybrid vehicles
▼ + stars: | 2024-05-14 | by ( Dylan Butts | ) www.cnbc.com time to read: +2 min

Nurphoto | Nurphoto | Getty ImagesElectric vehicle sales have risen sharply this year, led by growth in China and a strong demand for hybrid vehicles in particular, according to a report from Counterpoint Research. Sales of hybrid vehicles, which have both electric motors and combustion engines, vastly outpaced those of full battery-powered alternatives, rising 46% year over year. China extends leadChinese companies have been a huge beneficiary of the rise in demand for electric vehicles, especially firms that sell both BEVs as well as hybrids. According to Counterpoint, EV sales in China jumped 28% in the first quarter of 2023, amid an ongoing price war that has pushed down costs for consumers. But, while overall EV sales in the U.S. rose 2%, those of battery electric vehicles declined by 3% in the quarter.

Persons: BEV, Abhik Mukherjee, Tesla Organizations: Nurphoto, Getty, Counterpoint Research, EV, Geely Holdings, Li Auto, Volkswagen Locations: Lianyungang Port, Jiangsu Province, China, United States, Europe, U.S

☆ How new grads can land a job after college, even as employers cut back on Class of 2024 hires
▼ + stars: | 2024-05-13 | by ( Jessica Dickler | ) www.cnbc.com time to read: +2 min

Those armed with a newly minted diploma are entering a job market that looks a little less promising than it did one year ago. Employers plan to hire about 5.8% fewer new college graduates from this year's class than they hired from the Class of 2023, according to a report from the National Association of Colleges and Employers. Some companies, in industries such as chemical manufacturing, finance, insurance and real estate, have pulled back after scaling up last year, according to NACE. However, there are still pockets of growth, mainly in miscellaneous manufacturing, utilities and professional services, NACE also found. "In terms of the quality and quantity, they can pursue jobs beyond the constraints of a particular zip code," Salemi said.

Persons: NACE, Vicki Salemi, Salemi Organizations: National Association of Colleges, Employers, Finance

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