DIRS.INFO The most relevant business & tech news

☆ Think Bhutan’s $100 daily tourism fee is pricey? It could go even higher, says prime minister
▼ + stars: | 2024-05-21 | by ( Monica Pitrelli | Penny Sadler | ) www.cnbc.com time to read: +2 min

Bhutan may reconsider its controversial $100 daily tourism fees if the country's tourism industry recovers soon, Bhutan's Prime Minister Tshering Tobgay told CNBC on May 10. Bhutan reopened its borders in September 2022 with an increased "Sustainable Development Fee" of $200 per person per day in place. Indian travelers pay a reduced fee of 1,200 Bhutanese ngultrum ($14.50) per night, and daytrippers from India are exempt from the fee, according to Bhutan's Department of Immigration. The rate often included hotel, transportation and tour guide costs, and the mandatory $65 Sustainable Development Fee. Now, those costs are in addition to the $100 Sustainable Development Fee.

Persons: Tshering Tobgay, Tobgay, Tobgay's Organizations: Bhutan's, CNBC, Bhutan's Department of Immigration, Tourism, of Bhutan, Tobgay's People's Democratic Party . Locations: Bhutan, Asia, India, daytrippers

☆ Steve Jobs' former intern on why college grads should pay $50,000 to work with the best people
▼ + stars: | 2024-05-21 | by ( Sawdah Bhaimiya | ) www.cnbc.com time to read: +1 min

Steve Jobs' former intern has some sage advice for college graduates: stop focusing on working for big companies and instead find the best people to work for. Chet Kapoor, chairman and CEO of generative AI company DataStax, has had an illustrious career in Silicon Valley. The Kolkata-born tech leader started out working at Steve Jobs' software company NeXT in 1986 and went on to become CEO of API management company Apigee which was acquired by Google in a $625 million deal in 2016. Kapoor said his experience observing Jobs played a role in shaping his leadership style. "I can attribute a large portion of my success to my first two or three years at NeXT," he added.

Persons: Steve Jobs, Chet Kapoor, Kapoor, Jobs Organizations: NeXT, Google, Jobs, CNBC Locations: Silicon Valley, Kolkata

☆ AstraZeneca targets $80 billion in total revenue by 2030 in 'post-Covid era'
▼ + stars: | 2024-05-21 | by ( Sophie Kiderlin | In | ) www.cnbc.com time to read: +2 min

Costfoto | Future Publishing | Getty ImagesLONDON — Pharmaceutical company AstraZeneca on Tuesday said it planned to increase its total revenue to $80 billion by 2030 — up 75% from $45.8 billion in 2023. AstraZeneca will focus on its oncology, biopharmaceuticals and rare diseases businesses and expects to release an additional 20 medicines in the next six years. "Many of them have the potential to be $5 billion drugs," Sarin noted. A company statement detailed that this revenue figure could be hit annually for many of the new medicines in peak years. "For the entire market to get replaced it will take time, but we think we have the technology today to start replacing them," Sarin told CNBC.

Persons: CNBC's Arabile Gumede Organizations: Astrazeneca, Artificial Intelligence, — Pharmaceutical, AstraZeneca, CNBC, U.S . FDA, Pharmaceuticals, Investments Locations: Shanghai, China, Europe, London, Singapore

☆ U.S. tariff hikes on China EVs will benefit these global stocks, Bernstein says
▼ + stars: | 2024-05-21 | by ( Weizhen Tan | ) www.cnbc.com time to read: +3 min

On top of that, the Inflation Reduction Act (IRA) subsidies to reshore the battery supply chain to the U.S. are also "having the desired impact," it added. It named companies such as LG Energy Solution and Samsung SDI which have more than 65% of U.S. battery manufacturing capacity. LG Energy Solution has the additional benefit of being the most exposed to growth and IRA benefits, they added. But Bernstein said it prefers Samsung SDI to LG Energy Solution for now, as the former offers "growth at a reasonable price." Bernstein gave Samsung SDI and LG Chem an outperform rating and LG Energy Solution a market perform rating.

Persons: Bernstein, Freyr, — CNBC's Michael Bloom Organizations: U.S, LG Energy, Samsung SDI, LG Chem, Umicore, Basf, LG, Panasonic, Tesla, SolidEnergy Systems Locations: U.S, North America, decouple, China, South Korea, Europe

☆ Top value investor names 'very cheap' global gaming stock as a contrarian bet
▼ + stars: | 2024-05-21 | by ( Ganesh Rao | ) www.cnbc.com time to read: +3 min

While NCsoft shares are only traded in South Korea, they are accessible to U.S. and European investors through ETFs. The company's shares have been hit hard over the past few years, with the stock price declining significantly from its peak in 2021 and falling 40% over the past 12 months. German, co-manager of the Emerging Market Value strategy at Schroders , attributes the sell-off to several factors. In addition, NCsoft also announced a cost-cutting program and a share buyback program earlier this month which have already boosted the company's stock price by around 10%. Most analysts have a hold rating on the stock, giving shares only a 2% upside, according to FactSet data.

Persons: Vera German, NCsoft, Nexon Organizations: Esports, CNBC Pro, Investor Conference, South Korean Locations: Korean, South Korea, London, Korea

☆ Dubai Airports expects record passenger traffic this year, set to top 100 million by 2027
▼ + stars: | 2024-05-21 | by ( Sumathi Bala | ) www.cnbc.com time to read: +1 min

The CEO of Dubai Airports is bullish on the future and expects passenger traffic to surge to a record this year and top 100 million by 2027. Dubai Airports is the owner and manager of both Dubai International Airport (DXB) and Al Maktoum International Airport (DWC). "Those three reasons, suggests we are on for a record year — 91 million forecasts for the end of 2024," he told CNBC's "Capital Connection" on Tuesday. "We expect by 2027, to be topping the 100 million passenger mark. Dubai International Airport posted its busiest quarter in history this year, receiving over 23 million passengers — a 8.4% rise in the first quarter compared to the same period last year, the company said in a statement.

Persons: Paul Griffiths, Al, CNBC's Organizations: Dubai Airports, Dubai International, Al Maktoum International Airport, Emirates, Flydubai Locations: Dubai, Al Maktoum

☆ Tesla Fremont factory suffers another fire, investigation underway
▼ + stars: | 2024-05-21 | by ( Lora Kolodny | In Lorakolodny | ) www.cnbc.com time to read: +3 min

An aerial view of the Tesla Fremont Factory on April 24, 2024 in Fremont, California. A fire broke out at Tesla 's vehicle assembly plant in Fremont, California on Monday afternoon, according to a statement from the Fremont Fire Department, posted on social network X. The Fremont factory is Tesla's first mass EV manufacturing facility. On May 17, 2024 Tesla celebrated a milestone for its Fremont factory in conjunction with their battery factory outside of Reno, Nevada, saying they had surpassed production of 3 million vehicles. Fires at the Fremont factory in the past have sometimes necessitated a pause in production.

Persons: Tesla, Tesla's Fremont Organizations: Tesla Fremont Factory, Fremont Fire Department, Elon, Fremont, Environmental Health, Safety, California Employment, Bay, Air Quality Management, CNBC Locations: Fremont , California, Fremont, Reno , Nevada, California, Tesla's, Alameda County

☆ European markets head for lower open as positive momentum fades
▼ + stars: | 2024-05-21 | by ( Holly Ellyatt | ) www.cnbc.com time to read: 1 min

Shares of a global video game developer are currently being overlooked by the market and are up for grabs at a "very cheap" price, according to Schroders fund manager Vera German. The company's shares have been hit hard over the past few years, with the stock price declining significantly from its peak in 2021. It has fallen by 40% over the past 12 months alone. The value investor believes that the company is well-positioned for future growth as it has a net cash of $1.1 billion and a strong cash flow generation. CNBC Pro subscribers can read more here.

Persons: Vera German, — Ganesh Rao Organizations: CNBC

☆ Utility stocks are on a tear as an 'energy transition supercycle' lifts the entire sector
▼ + stars: | 2024-05-20 | by ( Spencer Kimball | ) www.cnbc.com time to read: +5 min

Vistra Corp. has doubled over that period, while Constellation Energy is up nearly 62% and NextEra Energy has surged 34%. "This is not your old utility, where you just get a dividend and you're happy," Shahriar Pourreza, managing director of energy, power and utilities at Guggenheim Partners, told CNBC. The sector was oversold coming into 2024, with the market going too far in pricing in the impact of interest rates, Pourreza said. Power companies with deregulated assets are able to respond to market conditions more quickly than traditional utilities, he said. The tech sector is looking for clean energy to power data centers as they are simultaneously trying to limit their carbon footprints.

Persons: Pourreza, Jerome Powell, Goldman Sachs, Stephanie Link, CNBC's, Paul Hickey, Vistra, NextEra Organizations: Utilities, Vistra Corp, Constellation Energy, NextEra Energy, Guggenheim Partners, CNBC, Federal Reserve, Investors, HighTower Advisors, Investment Group, Constellation, Services, Microsoft Locations: It's, U.S, Wells

☆ Watch CNBC's full interview with KKR's Henry McVey
▼ + stars: | 2024-05-20 | 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 EmailWatch CNBC's full interview with KKR's Henry McVeyHenry McVey, KKR's balance sheet CIO, joins 'Squawk Box' to discuss why the Federal Reserve won't cut rates this year, whether the equity market can hang on to gains, and more.

Persons: KKR's Henry McVey Henry McVey

☆ This 35-year-old turned a local Indonesian coffee stall into a unicorn startup — today it brings in $100 million a year
▼ + stars: | 2024-05-20 | by ( Ernestine Siu | In Ernestinesiu | ) www.cnbc.com time to read: +5 min

Within the span of seven years, Kopi Kenangan went from a local Indonesian coffee stall to a venture-backed unicorn coffee company. "Instead of focusing on the sofa, or fast Wi-Fi, we're going to focus on a good, high quality cup of coffee," Tirtanata said. This decision helped Kopi Kenangan scale to over 200 locations and 10 cities within the first two years of operations. Taking a data-driven hyperlocal approach means that a Kopi Kenangan latte in Singapore will taste different from a latte in Indonesia. This helped Kopi Kenangan more than triple its store count during the pandemic.

Persons: Edward Tirtanata, Dunkin, Kopi Kenangan, Tirtanata, it's, Carroll, James Prananto, Kopi, Kenangan, Prananto Organizations: CNBC, Entrepreneur, Northeastern University, Lewis Locations: Indonesian, Southeast Asia, Jakarta, Boston, Indonesia, U.S, Singapore

☆ CNBC TechCheck Evening Edition: May 20, 2024
▼ + stars: | 2024-05-20 | 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 EmailCNBC TechCheck Evening Edition: May 20TH, 2024CNBC's TechCheck brings you the latest in tech news from CNBC's 1 Market in the heart of San Francisco.

Persons: TechCheck Organizations: CNBC Locations: San Francisco

☆ Supreme Court Justice Alito sold Bud Light stock, then bought Coors during boycott
▼ + stars: | 2024-05-20 | by ( Kevin Breuninger | ) www.cnbc.com time to read: +4 min

United States Supreme Court Associate Justice Samuel Alito poses for an official portrait at the East Conference Room of the Supreme Court building on October 7, 2022 in Washington, DC. Supreme Court Justice Samuel Alito sold shares of beer giant Anheuser-Busch InBev as conservatives were ditching the Bud Light brewer over its partnership with a transgender social media influencer . The Supreme Court did not immediately respond to CNBC's request for comment on Alito's transaction report or the timing of his stock activity. In May 2023, Modelo replaced Bud Light as the top-selling beer in the U.S. Data from around that time showed sales of Bud Light had dropped nearly 25% year over year. Roth noted that the beer companies in question have no pending business before the Supreme Court that he can think of.

Persons: Samuel Alito, Alito, Bud Light, Busch, influencer Dylan Mulvaney, Mulvaney, —, Martha, Ann Alito, Gabe Roth, " Roth, Roth Organizations: East, Anheuser, Busch, Molson Coors, Supreme, Busch InBev, Bud, Modelo, InBev, Coors, Blacks, New York Times, Trump, U.S . Capitol, Times, CNBC, Bud Light Locations: Washington , DC, U.S

☆ Why Michael Dell's latest prediction about AI PCs is great news for Best Buy
▼ + stars: | 2024-05-20 | by ( Jeff Marks | ) www.cnbc.com time to read: +4 min

AI PCs: We've been talking for months about how the launch of new AI PCs from the likes of HP and Dell and a specialized generative AI keyboard button from Microsoft will start a new PC refresh cycle later this year. We're now seeing a ton of news about AI PCs from Microsoft and Dell. In an interview, Michael Dell told Bloomberg News that AI PCs will be delivered "in volume" this year and will be "pretty standard" by 2025. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.

Persons: Jim Cramer, We're, Michael Dell, Jim, Jim Cramer's, Andrew Kelly Organizations: CNBC, Dow Jones, Nvidia, Broadcom, HP, Dell, Microsoft, Bloomberg News, Palo Alto Networks, Keysight Technologies, Home, Jim Cramer's Charitable Locations: Manhattan , New York City

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailGrayscale CEO Michael Sonnenshein steps down, replaced by Goldman exec: CNBC Crypto WorldCNBC Crypto World features the latest news and daily trading updates from the digital currency markets and provides viewers with a look at what's ahead with high-profile interviews, explainers, and unique stories from the ever-changing crypto industry. On today's show, Crypto World takes a look at the SEC's recent actions against decentralized finance platforms and Ethereum as it prepares to issue a decision on spot ether ETF proposals.

Persons: Michael Sonnenshein, explainers Organizations: Goldman, CNBC Crypto, CNBC

☆ How Apple's AI push could do more than just reignite iPhone sales
▼ + stars: | 2024-05-20 | by ( Morgan Chittum | ) www.cnbc.com time to read: +5 min

"I think the iPhone next generation has to incorporate far more AI than it does now," Jim said on Monday. The Club's belief is that doing so will prompt iPhone users to upgrade to the newer model, helping reignite topline growth for Apple following a prolonged period of sluggishness. The majority of Apple's installed base of more than 2.2 billion devices is iPhones, Melius said in its note Monday. AAPL YTD mountain Apple (AAPL) year-to-date performance AI can boost more than just iPhone sales, according to Melius. In the three months ended March 30, the iPhone 15 and iPhone 15 Pro Max held the No.

Persons: Jim Cramer, Jim, Melius, Max, Jim Cramer's Organizations: Melius Research, Apple, Conference, Cupertino, Reuters, Huawei, CNBC, Citizens, Nurphoto, Getty Locations: China, Melius, India, Shanghai

☆ Here's our latest thinking on the 3 portfolio stocks reporting earnings this week
▼ + stars: | 2024-05-20 | by ( Morgan Chittum | ) www.cnbc.com time to read: +3 min

Every weekday the CNBC Investing Club with Jim Cramer holds a "Morning Meeting" livestream at 10:20 a.m. Club holding Nvidia helped drive the market higher, up 2.5% ahead of its quarterly earnings report Wednesday night. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.

Persons: Jim Cramer, it's, Jim, Jim Cramer's Organizations: CNBC, Nasdaq, Dow Jones, Nvidia, TJX Companies, Deutsche Bank, ISI, JPMorgan, Marshalls, Palo Alto Locations: Maxx, Palo Alto

☆ CNBC Daily Open: Dow at record high, Iran’s president dies in helicopter crash
▼ + stars: | 2024-05-20 | by ( Abid Ali | ) www.cnbc.com time to read: 1 min

In this article GMENVDATSLAGOOGL Follow your favorite stocks CREATE FREE ACCOUNTTraders work on the floor of the New York Stock Exchange during morning trading on May 17, 2024 in New York City. Angela Weiss | AFP | Getty ImagesThis report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Like what you see? What you need to know todayThe bottom line

Persons: Angela Weiss Organizations: New York Stock Exchange, AFP, Getty, CNBC Locations: New York City

☆ Watch CNBC's full interview with Hayman Capital Management founder Kyle Bass
▼ + stars: | 2024-05-20 | 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 EmailWatch CNBC's full interview with Hayman Capital Management founder Kyle BassKyle Bass, Hayman Capital founder and CIO, joins 'Squawk Box' to discuss the death of Iran's president and foreign minister, the United States' new tariffs on China, and more.

Persons: Kyle Bass Kyle Bass Organizations: Hayman Capital Management, Hayman Capital Locations: United States, China

☆ As their customers age, Macy's, Kohl's and Nordstrom are chasing younger shoppers
▼ + stars: | 2024-05-20 | by ( Melissa Repko | In Melissa-Repko | ) www.cnbc.com time to read: +7 min

In this article JWNKSSM Follow your favorite stocks CREATE FREE ACCOUNTSignage of Macy's, Kohl's and Nordstrom retail stores. Department stores like Macy's , Kohl's and Nordstrom face an existential crisis, as they try to persuade investors to bet on their futures while sales slow and their core customers age. Melissa Repko | CNBCTo attract younger shoppers, Kohl's is adding trendier clothing for teens, opening more Sephora shops and bulking up its baby department. At the same time, Macy's is trying to go where younger shoppers are, including suburban strip malls and beauty aisles. The company plans to open up to 30 of its smaller off-mall Macy's stores over the next two years.

Persons: hasn't, Nordstrom, Oliver Chen, Cowen, Chen, Kohl's, Melissa Repko, Tom Kingsbury, Maxx, Kingsbury, Macy's, It's, Tony Spring, He's, TD Cowen's Chen, Scott Olson Organizations: Nordstrom, Getty Images Department, Department, Wall, Baby Boomers, Boomers, CNBC, Target, Costco, Getty Locations: Kohl's, Macy's, Sephora, Bluemercury, Bloomie's, Zara, Chicago , Illinois

☆ $9 billion travel tech firm Navan on track to hit profitability this year and 'not far' from IPO, CEO says
▼ + stars: | 2024-05-20 | by ( Ryan Browne | ) www.cnbc.com time to read: +2 min

Asked about when Navan would choose to go public, the firm's CEO and co-founder Ariel Cohen said the company is close to reaching that milestone. "We can see the signals," he said, adding that Navan has been adjusting its leadership structure and making changes to its board in a signal of maturity. Last month saw Navan announce the return of Rich Liu, formerly Navan's chief revenue officer and "an expert on scaling companies from seed to IPO and beyond," to the business as CEO of Navan Travel, the company's travel division. While Cohen wouldn't commit to a date for Navan's eventual IPO, he said the business was "not far" from being ready for a stock market listing. The company is on track to become cash-flow positive and achieve profitability for the first time this year, he said.

Persons: Ariel Cohen, Rich Liu, Amy Butte, Cohen, Cohen wouldn't, he's Organizations: Navan, CNBC, Navan Travel, New York Stock Exchange Locations: Navan, U.S

☆ One-third of single-family homes for sale are newly built, report finds. Here's what buyers need to know
▼ + stars: | 2024-05-20 | by ( Ana Teresa Solá | ) www.cnbc.com time to read: +4 min

While new builds are still sold for slightly more than existing homes, the price gap has significantly narrowed. Over the last six months, the median price for a new home is only about 4% higher than the median price of an existing house. Reducing the square footage of your home can help reduce construction costs as well as utility and maintenance costs down the line. Keep construction costs down: Major factors like lumber and labor costs significantly impact the cost of a new house. And depending on the kinds of materials you add to the house, builders are "adding up the tab," Veronica Fuentes, a wealth management advisor based in Washington, D.C., previously told CNBC.

Persons: Alistair Berg, Digitalvision, Nicole Bachaud, Dietz, Matthew Walsh, Walsh, homebuilders, Veronica Fuentes Organizations: Getty, Zillow Group, CNBC, U.S . Census, U.S . Department of Housing, Urban, Moody's, Washington , D.C Locations: U.S, Washington ,

☆ CNBC Daily Open: Dow at record close, GameStop shares crash
▼ + stars: | 2024-05-20 | by ( Shreyashi Sanyal | ) www.cnbc.com time to read: 1 min

In this article GMENVDATSLAGOOGL Follow your favorite stocks CREATE FREE ACCOUNTAndriy Onufriyenko | Moment | Getty ImagesThis report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Like what you see? You can subscribe here. What you need to know todayThe bottom line

Persons: Andriy Onufriyenko Organizations: CNBC

☆ Morgan Stanley stock strategist Mike Wilson raises S&P 500 forecast to 5,400 after bearish call on 2024 fails to pan out
▼ + stars: | 2024-05-20 | by ( Sarah Min | ) www.cnbc.com time to read: +3 min

The U.S. equity strategist now expects the S & P 500 will rise to 5,400 by the second quarter of 2025. Just last week, the S & P 500 closed above 5,300 for the first time. His bull case of 6,350 represents roughly 20% upside over the next 12 months for the S & P 500. Deutsche Bank's Binky Chadha hiked his S & P 500 target to 5,100, noting the benchmark could pop to 5,500. But market strategists on average are anticipating the S & P 500 will fall to 5,220 by the end of 2024, according to CNBC's Market Strategist Survey .

Persons: Morgan, Mike Wilson, Wilson, Morgan Stanley's, Brian Belski, Chadha, Dubravko, Bujas Organizations: CNBC Market, Deutsche

☆ CNBC Markets Now: May 20, 2024
▼ + stars: | 2024-05-20 | 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 EmailCNBC Markets Now: May 20, 2024CNBC Markets Now provides a look at the day's market moves with commentary and analysis from Michael Santoli, CNBC Senior Markets Commentator.

Persons: Michael Santoli Organizations: CNBC

Search resuls for: "Cnbc"

25 mentions found