DIRS.INFO The most relevant business & tech news

☆ Citadel's Ken Griffin wants to build a massive NYC skyscraper that the city hopes will lure more workers back to the office
▼ + stars: | 2024-04-16 | by ( Geoff Weiss | ) www.businessinsider.com time to read: +2 min

Citadel's Ken Griffin filed plans alongside Vornado and Rudin for a 62-story NYC skyscraper. The mayor's office said the building would bolster an ongoing revitalization of midtown. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Real estate developers Vornado Realty Trust and Rudin Management filed plans for the project alongside Griffin (whose Citadel and Citadel Securities will serve as anchor tenants), the mayor's office said Tuesday. The prices they paid will fund upkeep for both churches, the Mayor's office said, to the tune of $150 million.

Persons: Citadel's Ken Griffin, Rudin, Griffin, —, Ken Griffin, Adams, Griffin doesn't Organizations: Vornado, Service, Realty, Rudin Management, Citadel Securities, Saint Bartholomew's, Midtown, Bloomberg, Citadel, Business, Miami Locations: Miami, New York, St, Patrick's, Midtown Manhattan, Chicago, United States

☆ Citadel's Ken Griffin says the Fed shouldn't cut too quickly, citing big tailwinds supporting inflation
▼ + stars: | 2024-03-12 | by ( Yun Li | ) www.cnbc.com time to read: +1 min

Ken Griffin, Citadel founder and CEO, thinks the Federal Reserve should move slowly to cut interest rates in its fight against stubborn inflation. "If I'm them, I don't want to cut too quickly," Griffin said at the International Futures Industry conference in Boca Raton, Florida on Tuesday. "The worst thing they could end up doing is cutting, pausing and then changing direction back towards higher rates quickly. So we've got two big, big tailwinds that continue to support the inflation narrative," Griffin said. While the inflation rate is well off its mid-2022 peak, it still remains well above the Fed's 2% goal.

Persons: Ken Griffin, Griffin, we've Organizations: Citadel, Reserve, International Futures Industry, Boca, Fed Locations: Boca Raton , Florida, multistrategy Wellington

☆ Watch Citadel's Ken Griffin talk about the markets, economy and the Fed's rate-cutting path
▼ + stars: | 2024-03-12 | by ( Yun Li | ) www.cnbc.com time to read: 1 min

[The stream is slated to start at 3:20 p.m.ET. Please refresh the page if you do not see a player above at that time.] Ken Griffin, Citadel founder and CEO, is set to speak at the International Futures Industry conference in Boca Raton, Florida. He will discuss his views on the latest market trends as well as the economy and the Federal Reserve's monetary policy ahead. Subscribe to CNBC on YouTube.

Persons: Ken Griffin Organizations: Citadel, International Futures Industry, Boca, Federal, CNBC, YouTube Locations: Boca Raton , Florida

☆ Citadel's Ken Griffin says the economy looks ‘pretty damn good right now’
▼ + stars: | 2024-01-30 | by ( Hakyung Kim | ) www.cnbc.com time to read: +2 min

The market has managed to put behind the "economic anxiety" it faced as recently as the fourth quarter of 2023, according to Citadel CEO Ken Griffin. "The [Federal Reserve] can start to cut rates come this summer, and we will see unemployment touch up a little bit. But the overall economy looks pretty damn good right now," Griffin told CNBC's Leslie Picker on Tuesday at the MFA Network event in Miami. However, Griffin noted that the current level of federal spending has created an economy that "feels really good right now," but could come at a cost. It's creating [a] bit of euphoria right now, but it will come with a hangover," said Griffin.

Persons: Ken Griffin, Griffin, CNBC's Leslie Picker, Griffin's, Dow Organizations: Citadel, Federal, Fed, U.S, Dow Jones, CNBC PRO Locations: Miami, Taiwan, China, U.S

☆ Billionaire hedge fund boss Ken Griffin pays for 1,200 staff and family members to visit Disney Tokyo and hear performances by Maroon 5 and Calvin Harris
▼ + stars: | 2023-10-30 | by ( Sarah Jackson | ) www.businessinsider.com time to read: +2 min

Citadel's Ken Griffin treated roughly 1,200 staffers and family members to a visit to Tokyo Disneyland. The event, honoring Citadel's 30th anniversary and Citadel Securities' 20th, also included a Maroon 5 concert. Griffin, worth $35.4 billion, treated staff to a Disney World trip and Coldplay concert last year. AdvertisementAdvertisementHedge fund boss Ken Griffin paid for more than 1,000 Citadel and Citadel Securities employees and family members to go to Disney in Tokyo last week in honor of the companies' recent anniversaries. The roughly 1,200 attendees, including about 300 children, received tickets to Walt Disney World Tokyo, including Tokyo Disneyland and DisneySea, and saw musical performances by Maroon 5 and Calvin Harris, the company told Insider.

Persons: Citadel's Ken Griffin, Citadel's, Griffin, —, Ken Griffin, Maroon, Calvin Harris, We've, Coldplay Organizations: Citadel Securities, Disney, Coldplay, Service, Citadel, Walt Disney World, Bloomberg, Disney World, Universal Studios Locations: Tokyo, Asia Pacific, Hong Kong, Singapore, Sydney, Shanghai, Canada, Europe, Asia

☆ Mark Zuckerberg's Meta has lost nearly $50 billion on the metaverse - more than Ford, Hershey, or Kraft Heinz are worth
▼ + stars: | 2023-10-27 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +3 min

Mark Zuckerberg's Meta has recorded nearly $50 billion of metaverse losses in under five years. "We expect our RL operating losses to increase meaningfully in 2024," they noted in Meta's third-quarter earnings. Meta's metaverse losses to date exceed the market capitalization of Ford ($45 billion), Keurig Dr. Pepper ($41 billion), Hershey ($39 billion), Kraft Heinz ($39 billion), and many other large companies. They could soon overtake Lululemon ($49 billion), Chipotle ($50 billion), Target ($51 billion), and Monster Beverage ($52 billion) in size. They would also be worth nearly half as much as Zuckerberg ($105 billion).

Persons: Mark Zuckerberg's Meta, Kraft Heinz, Nike's Phil Knight, Nvidia's Jensen Huang, Ken Griffin, —, Zuckerberg's Meta, Zuckerberg, Dr, Pepper, Phil Knight, Jensen Huang, Taylor Organizations: Ford, Hershey, Service, Reality Labs, Lululemon, Monster Beverage, Bloomberg, Nike, Nvidia, Citadel, Meta, NBA Locations: Meta's

☆ Wall Street and money moved into South Florida, driving up prices. Now some residents want to move out.
▼ + stars: | 2023-10-22 | by ( Kelsey Neubauer | ) www.businessinsider.com time to read: +10 min

They're looking to nearby smaller cities in South Carolina, North Carolina, Georgia, and Tennessee. They're picking places like Knoxville, Tennessee; Greenville, South Carolina; Huntsville, Alabama; and Asheville, North Carolina; which she collectively refers to as "the Villes." AdvertisementAdvertisementWhy CEOs moved their lives — and their businesses — to FloridaWall Street moved to South Florida in droves in 2020 and 2021. Billionaire hedge-fund CEOs — like Citadel's Ken Griffin — paid record-shattering amounts for South Florida homes , added offices, and moved their businesses there entirely from New York, Chicago, and Silicon Valley. They bought a 2,400-square-foot, four-bedroom home on an acre of land for the same price in Greenville, South Carolina.

Persons: —, There's, Nicole Panesso, Holly Meyer Lucas, Meyer Lucas, Ken Griffin —, Brian Guzman, Guzman, Jonathan Miller, Ken Griffin, PATRICK T, FALLON, It's, Larry Ellison, Miller, Michael Bordenaro, Greg May, Marcia Straub, Keller Williams, Jill Cody, she's, Ryan Wilson, Jami, Alexander Spatari, Jami Wilson Organizations: Service, Sunshine State, Census Bureau, Orlando, Coral, Fort Myers, Florida Wall, Billionaire, Guzman Advisory Partners, Getty, West Palm Beach, Florida Atlantic University, Silicon, Oracle, South, South Florida metros, Fortune, Miami, Homes, Army Locations: Florida, Greenville, Knoxville, South Florida, Chattanooga , Tennessee, South Carolina, North Carolina , Georgia, Tennessee, Knoxville , Tennessee, Greenville , South Carolina, Huntsville , Alabama, Asheville , North Carolina, Realtor.com, Asheville, Miami, Gulf Coast, New York, Chicago, Silicon, West Palm, Fort Lauderdale, Palm Beach, Texas, North Carolina, Greensboro, Fort

☆ Insider Today: Market's crash landing
▼ + stars: | 2023-10-09 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +9 min

NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. The core question it presents is whether personal AI devices could have the same impact that the iPhone had on the tech industry. Meta's Responsible AI team shrank amid layoffs and restructuring. Yet the team tasked with ensuring that new AI tech was "fair and inclusive" is half the size it was in 2021. Yet the team tasked with ensuring that new AI tech was "fair and inclusive" is half the size it was in 2021.

Persons: —, Benjamin Netanyahu, Insider's Matthew Fox, Mohamed El, Matthew, Jerome Powell, hasn't, mavens, Izzy Englander, Citadel's Ken Griffin, Point72, Steve Cohen, Phil McCarten, Dave Kotinsky, Shaw, Victor Virgile, Arantza Pena Popo, Bella Hadid, John Lennon, Ben Shelton, Sharon Osbourne, William Hanson, Dan DeFrancesco, Naga Siu, Hallam Bullock, Lisa Ryan Organizations: Service, Hamas, Saturday, Israeli, Citadel, federal, Tech, Peoples, Indian Heritage Locations: Israel, D.E, Cupertino, China, South Dakota, Oklahoma, Hawaii, Alabama, Dakota, Los Angeles, New York City, San Diego, London, New York

☆ Citadel's Ken Griffin says he's anxious about the market, seeing rally in the 7th or 8th inning
▼ + stars: | 2023-09-14 | by ( Yun Li | ) www.cnbc.com time to read: +2 min

Ken Griffin , founder and CEO of Citadel, said Thursday he's uncertain that the stock-market rally can keep chugging along as the economy starts to feel the pain from rate hikes. "I'm a bit anxious that this rally can continue," Griffin said on CNBC's " Squawk on the Street. " He thinks that the market might have a hard time maintaining its solid 2023 gains as the negative effects of rate hikes starts to emerge. Griffin believes that there's a small chance of one more rate increase later this year. "We're now at the point where we're gonna see the impact of these hikes really start to play out we're seeing the job market starting to weaken."

Persons: Ken Griffin, Griffin, he's, We're Organizations: Citadel, Big Tech, Nvidia, Federal

☆ What Wall Street is telling employees about returning to the office, from Goldman Sachs to JPMorgan and Blackstone
▼ + stars: | 2023-09-04 | by ( Kaja Whitehouse | Michelle Abrego | ) www.businessinsider.com time to read: +11 min

According to Goldman's chief economist, Jan Hatzius, some 25% of all US workers work from home at least part of the week. So, which Wall Street firms are still letting employees work from home at least part of the time? On days employees are in, the firm focuses on taking "advantage of our shared location," it reads. At that time, the firm called for its employees to come into the office a minimum of three days a week. Since then, most employees have been in the office throughout the week, according to a person familiar with the firm.

Persons: Goldman Sachs, David Solomon, Citadel's Ken Griffin, Joe Biden, Jan Hatzius, Hatzius, Jamie Dimon, Goldman, Goldman Sachs Goldman Sachs, —, Dimon, JPMorgan Gretchen Ertl, Jane Fraser, she's, Fraser, they're, Citigroup Patrick, Fallon, Brian T, Moynihan, Bank of America Shannon Stapleton, Reuters Morgan Stanley Morgan Stanley's, James Gorman, Gorman, Gorman doesn't, Morgan Stanley, we're, James Gorman SAUL LOEB, Larry Fink, Larry Fink Spencer Platt, Citadel's Griffin, Griffin, Raj Mahajan, Ken Griffin, Milken, Mike Blake, Blackstone, Stephen Schwarzman Roy Rochlin, Nir Bar Dea, Izzy Englander's Organizations: JPMorgan, Blackstone, Morning, Citadel, Bloomberg, Business, Deloitte, JPMorgan JPMorgan, Goldman, Citigroup, Street, Bank, Economic, Getty Images Bank of America Bank of, Bank of America, Reuters, Getty, BlackRock BlackRock, Yards, Labor, Fox, BlackRock, Citadel Securities, Blackstone Blackstone, Bridgewater Bridgewater Associates, Bridgewater Associates, Bridgewater Locations: Citadel, Davos, Switzerland, New York City

☆ Wall Street is finding the silver lining on inflation, but how long will the 'good' times last?
▼ + stars: | 2023-06-15 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +5 min

But on Wall Street, a crisis is just a bit of financial engineering away from becoming an opportunity to make money. That's where inflation traders come in. The strategy of betting on the swings in consumer prices has exploded in recent years, with revenues from inflation trading going from $700 million in 2019 to $3.9 billion in 2022. And while inflation trading has the potential to generate some big returns, making your money back on hires like these might be a tall task if inflation has a short shelf life. More on where the top players in inflation trading are landing amid a heated war for talent.

Persons: Dan DeFrancesco, we've, Goldman Sachs, I've, Malte Mueller, Insider's Kaja Whitehouse, Kaja, Ben Stiller, Owen Wilson, Elon Musk, Goldman, Citadel's Ken Griffin, Dara Khosrowshahi, Jeffrey Cane, Nathan Rennolds Organizations: Getty, Labor Statistics, Federal, Paramount, BlackRock, Tech, LinkedIn Locations: BlackRock, China, New York, London

☆ Citadel's Ken Griffin says the A.I. community is making a mistake by creating so much hype
▼ + stars: | 2023-06-07 | by ( Yun Li | ) www.cnbc.com time to read: +3 min

Ken Griffin, founder and CEO of Citadel, believes the hype around artificial intelligence could be overblown at this early stage. "I do think the AI community is making a terrible mistake by being full of hype on the near-term implications of generative AI," Griffin said Tuesday during an event for Citadel's new class of interns in Fort Lauderdale, FL. "I think they're actually doing everybody a huge disservice with the level of hype they are creating." One industry that could see a material impact from AI is programming and software engineering, Griffin said. "Programing is going be a big target for generative AI," Griffin said, asked by an intern about AI's impact on his business.

Persons: Ken Griffin, Griffin, chatbot, Warren Buffett Organizations: Citadel, Nvidia, AI Safety, Harvard, MIT, Citadel Securities Locations: Fort Lauderdale , FL, Fort Lauderdale, Palm Beach

☆ Recasting the upcoming GameStop movie: Here's who should play Ken Griffin, Steve Cohen, and the rest of the gang
▼ + stars: | 2023-04-27 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +6 min

Wall Street is getting the Hollywood treatment again. - Paul Giamatti as AMC's Adam Aron (This guy knows his way around Wall Street.) For more on the upcoming GameStop movie, including who is set to play the "pot-smoking retail trader," click here. Here's why the rest of Wall Street might be motivated to help First Republic. Meet the new generation of the ultra-rich on Wall Street.

☆ What we lend in the shadows
▼ + stars: | 2023-03-15 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +6 min

"What We Do in the Shadows." New companies, especially ones that don't make any money are "pre-revenue," as VCs like to say, aren't easy to lend to. — there are also risks to letting investment firms lend billions of dollars without much oversight. Private-credit firms are looking to fill the lending gap left by Silicon Valley Bank's downfall. Inside Silicon Valley Bank's $70 billion loan portfolio that's now up for grabs.

☆ The Silicon Valley Bank rescue means regulators have guaranteed deposits for the entire US financial system, Evercore founder Roger Altman says
▼ + stars: | 2023-03-14 | by ( Filip De Mott | ) www.businessinsider.com time to read: +3 min

The federal rescue of SVB depositors means all bank deposits are guaranteed, Roger Altman said. "The banking regulators decide to guarantee the deposit base of the entire US financial system, which is certainly what they just did," he said. The rescue has other long-term implications, including whether guaranteeing all deposits will eventually lead to less disciplined behavior by bank managers, he said. His remarks follow dire warnings from others in the financial world about what the SVB rescue means. And Citadel's Ken Griffin told the Financial Times that the government's aid to depositors was a danger to the nation's economic identity.

☆ Jerome Powell isn't winning any popularity contests among investors as markets booed his testimony on Tuesday
▼ + stars: | 2023-03-08 | by ( Phil Rosen | ) www.businessinsider.com time to read: +6 min

If you missed Jerome Powell's remarks from his first day on Capitol Hill yesterday, the TLDR is that more rate hikes are coming because the economy's still running hot. The market response to Powell's testimony was anything but muted. The idea is to eventually lower inflation — which most recently clocked in at 6.4% — but the more rate hikes we see, the greater the risk of a recession. So in short: stocks sold off, bond yields jumped, and traders eyed greater potential for a bigger rate hike this month. "If the totality of the data were to indicate that faster tightening is warranted, we would be prepared to increase the pace of rate hikes," Powell said.

☆ A little-known hedge-fund manager's huge bet on inflation earned him $859 million and propelled him into the top 10 list
▼ + stars: | 2023-02-17 | by ( Ryan Hogg | ) www.businessinsider.com time to read: +3 min

The manager of a little-known hedge fund was the 6th highest paid manager last year, per Bloomberg. Said Haidar made a huge leveraged bet on interest rates rising last year, and took home $859 million. The jump in prices last year means the hedge fund, which had positioned itself to profit from the rises, was able to benefit reap huge returns from its bet. His $859 million total was split between a $645 million gain on personal investment and a $314 million share of fund performance fees. Meanwhile, Elliott Management's Peter Singer brought home $317 million, with his hedge fund managing $56 billion in assets.

☆ Ken Griffin's Citadel Securities reveals 5.5% stake in crypto bank Silvergate
▼ + stars: | 2023-02-14 | by ( Hannah Lang | ) www.reuters.com time to read: +1 min

Feb 14 (Reuters) - Citadel Securities, the market maker that is owned by Citadel's Ken Griffin, on Tuesday reported a 5.5% stake in cryptocurrency-focused lender Silvergate Capital Corp (SI.N) worth about $25 million, according to a regulatory filing. The filing was a result of the firm's market making operations as opposed to a directional investment in Silvergate, according to a person familiar with the matter. Federal prosecutors in Washington are probing Silvergate and its dealings with FTX and Alameda Research, a source familiar with the investigation has said. U.S. custodian bank State Street Corp (STT.N) reported a 9.32% passive stake in Silvergate earlier this month. Reporting by Hannah Lang in Washington; Editing by Leslie Adler and Jane MerrimanOur Standards: The Thomson Reuters Trust Principles.

☆ Morningstar shares 2 trades they say will deliver 7% yearly returns over the next decade, even after accounting for inflation — and breaks down why the 60/40 portfolio strategy is starting to look att
▼ + stars: | 2022-12-20 | by ( William Edwards | ) www.businessinsider.com time to read: +4 min

But the sell-offs have put both asset classes in a better position to succeed for the long-term, Straehl said in a recent note. While communication services stocks have largely sold off this year, the sector is now the most attractive in the market, Straehl said. The Vanguard Communication Services ETF (VOX) provides exposure to the communications services sector. The second trade Straehl said will deliver 7% real returns over the next 10 years is emerging market stocks. The stocks are in a more favorable place valuation-wise than developed market stocks, Straehl said.

☆ GloriFi, an 'anti-woke' bank backed by Peter Thiel and Candace Owens, is folding just 3 months after it was set up
▼ + stars: | 2022-11-24 | by ( Ryan Hogg | ) www.businessinsider.com time to read: +2 min

An "anti-woke" bank backed by Peter Thiel is closing down just three months after it was founded. GloriFi attracted $50 million in investment from conservative backers last year. The Wall Street Journal reported on Monday that Texas-based startup GloriFi had laid off most its workforce and was planning to close its doors, according to people familiar with the matter. The venture attracted some high-profile backers, including Thiel and Citadel's Ken Griffin, both of whom have donated to conservative causes. Owens, a conservative commentator, agreed to become a public face of GloriFi when it started.

☆ Citadel's Ken Griffin warns the US economy will enter an immediate 'great depression' if China invades Taiwan and cuts off access to its semiconductor industry
▼ + stars: | 2022-11-16 | by ( ) www.businessinsider.com time to read: +2 min

Citadel founder Ken Griffin speaks at the CNBC Delivering Alpha conference in New York on September 28, 2022. CNBCThe US economy would immediately enter a great depression if China invades Taiwan, according to Citadel founder Ken Griffin. The US is "playing with fire" as it balances a sensitive relationship between China and Taiwan, according to Citadel founder Ken Griffin. In an interview with Bloomberg on Tuesday, Griffin said the US would enter an "immediate great depression" if China invades Taiwan and cuts off access to its semiconductor industry. But that concentrated bet could be a big loser if Griffin's bleak view on China and Taiwan ultimately pans out.

☆ Wealthy people who moved to Miami are rejecting Florida traditions and radically transforming their homes instead
▼ + stars: | 2022-10-12 | by ( Kelsey Neubauer | ) www.businessinsider.com time to read: +7 min

"They're willing to bring their New York aesthetic down into Miami, or their LA or Beverly Hills aesthetic down into Miami." Miami newcomers aren't afraid to break away from aesthetic normsEilyn, who said her design style is more personable and poised, was born and raised in Miami. The result is a modern beach home that includes elements of classic Miami design "mixed with the tranquility of Mykonos" that combines a simple color palette with pops of visual interest. "You can incorporate details that maybe you wouldn't see so much in Miami design," she said. It means they have a steady stream of work, with the possibility to be creative and stretch their imaginations as they shape the future of Miami design.

☆ Citadel's Ken Griffin says Fed must continue fight to reset inflation expectations
▼ + stars: | 2022-09-28 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCitadel's Ken Griffin says Fed must continue fight to reset inflation expectationsKen Griffin, Citadel’s founder and CEO, speaks from CNBC's Delivering Alpha and discusses his outlook on rising inflation in the United States, and the Fed's approach to fighting rising prices.

Search resuls for: "Citadel's Ken Griffin"

23 mentions found