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☆ Warren Buffett: We'll see how next management handles future investments in India
▼ + stars: | 2024-05-04 | 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 EmailWarren Buffett: We'll see how next management handles future investments in IndiaBerkshire Hathaway Chairman and CEO Warren Buffett presides over the 2024 Berkshire Hathaway annual meeting.

Persons: Warren Buffett Organizations: India Berkshire Hathaway, Berkshire Hathaway Locations: India Berkshire

☆ Buffett's Berkshire Hathaway trouncing the market this year and near a record heading into shareholder meeting
▼ + stars: | 2024-05-03 | by ( Sarah Min | ) www.cnbc.com time to read: +6 min

Berkshire Hathaway shares are near all-time highs ahead of the conglomerate's annual shareholder meeting, but a few worries are weighing on analysts' minds. BRK.B ALL mountain Berkshire Hathaway Class B shares But that doesn't mean the stock is without its problems. Berkshire Hathaway Energy Berkshire Hathaway has been contending with several high-profile lawsuits in recent months, including the settlement this year of a billion-dollar lawsuit with the Haslam family over how Berkshire valued Pilot Travel Centers, a truck-stop giant. Her 12-month price target of $472 implies Berkshire shares can climb roughly 18% from Thursday's closing price of $400.60 per share. "I think that the future is very bright for Berkshire Hathaway," Shanahan said.

Persons: Berkshire Hathaway, Cathy Seifert, Berkshire Hathaway Energy Berkshire Hathaway, Haslam, PacifiCorp, Warren Buffett's Berkshire Hathaway, Buffett, Edward Jones, James Shanahan, CFRA's Seifert, Seifert, Shanahan, Bull Organizations: Berkshire, Berkshire Hathaway, CFRA Research, Berkshire Hathaway Energy Berkshire, Travel Centers, Berkshire Hathaway Energy, Federal Reserve, CNBC Locations: Berkshire, Oregon, Northern California, Warren, Woodstock, Omaha , Nebraska

☆ 4 ways equity management can help build a foundation for growth
▼ + stars: | 2024-05-02 | by ( Sponsor Post | ) www.businessinsider.com time to read: +7 min

To drive a culture of ownership, companies must build an effective strategy around equity management. Optimize capitalization table managementOne of the core elements of an effective equity management strategy is a transparent and defensible capitalization table. And with a partner to help design or evolve your equity plan management strategy, your organization will be well-prepared for its next stage of growth. Morgan Stanley Smith Barney LLC ("Morgan Stanley") and its Financial Advisors and Private Wealth Advisors do not provide any tax/legal advice. Morgan Stanley at Work services are provided by Morgan Stanley Smith Barney LLC, member SIPC, and its affiliates, all wholly owned subsidiaries of Morgan Stanley.

Persons: Teri McFadden, you've, Morgan Stanley, Mike Jung, Morgan Stanley Smith Barney, SIPC Organizations: Norwest Venture Partners, Circle, Insider Studios, Financial Advisors, Wealth Advisors

☆ Republican governors from six states condemn UAW campaigns, citing potential for layoffs
▼ + stars: | 2024-04-16 | by ( Michael Wayland | ) www.cnbc.com time to read: +1 min

DETROIT — Republican governors of six states on Tuesday condemned the United Auto Workers' push to organize automotive factories in the South, warning the union's efforts could lead to layoffs and fewer future investments. The joint statement — signed by governors in Alabama, Georgia, Mississippi, South Carolina, Tennessee and Texas — comes a day before Volkswagen workers in Chattanooga, Tennessee, begin voting on whether to join the UAW. The VW vote is part of an unprecedented labor organizing drive announced last year by UAW President Shawn Fain that targets 13 automakers operating in southern states and elsewhere. "We have worked tirelessly on behalf of our constituents to bring good-paying jobs to our states. Unionization would certainly put our states' jobs in jeopardy — in fact, in this year already, all of the UAW automakers have announced layoffs," read the statement.

Persons: —, Texas —, Shawn Fain, Bill Lee Organizations: DETROIT, United Auto Workers, UAW, VW, General Motors, Ford Motor, Chrysler, Tennessee Gov Locations: Alabama , Georgia , Mississippi, South Carolina , Tennessee, Texas, Chattanooga , Tennessee

☆ Microsoft made cuts to its Teams chat app to focus on its Copilot AI tools, leaked memo shows
▼ + stars: | 2024-04-01 | by ( Ashley Stewart | ) www.businessinsider.com time to read: +3 min

Read previewMicrosoft reorganized teams under Jared Spataro, its head of "AI at Work," shifting focus to its Copilot AI products and reducing the number of employees working on its Teams chat app, according to an excerpt of an internal memo shared with Business Insider. "In early 2022, we recognized the pandemic as a once-in-a-generation opportunity and we surged on Teams to win," Spataro wrote. AdvertisementMicrosoft spokesman Frank Shaw confirmed Spataro is putting more resources behind Copilot, but said Teams remains a core priority and Copilot is a part of Teams. Copilot for Teams, Shaw said, is the company's most used and loved Copilot according to customer surveys and research and will continue to be a focus of future investments. Microsoft is leaning into the potential of its new Copilot tools, built on OpenAI's GPT models, which so far have mixed feedback from customers.

Persons: —, Jared Spataro, Spataro, Colette Stallbaumer, Frank Shaw, Shaw, OpenAI's, Ashley Stewart, Axel Springer Organizations: Service, Microsoft, Business

☆ Nelson Peltz withholds votes from Disney CEO Bob Iger in proxy battle
▼ + stars: | 2024-03-25 | by ( Becky Quick | ) www.cnbc.com time to read: +2 min

Nelson Peltz's Trian Fund Management withheld its votes from Walt Disney CEO Bob Iger when voting its shares in the bitter proxy battle the asset management firm is waging against the entertainment giant, according to sources who monitor the situation. However, it is counter to Trian's proxy recommendations, and it doesn't mesh with the public statements Peltz has made about wanting to work together with management if he is elected to the Disney board. In recent weeks, Disney has stepped up its attacks on Trian and Peltz. "Disney is stupid because I'm not trying to fire Bob Iger, I want to help him," Peltz recently told the Financial Times. The Disney board meeting will be held April 3 and Trian could change its vote between now and then.

Persons: Nelson Peltz, Nelson Peltz's, Bob Iger, Peltz, I'm, Trian, Jay Rasulo, Maria Elena Lagomasino, Michael Froman, Ike Perlmutter Organizations: Trian Fund Management, Future Investment Initiative, Summit, Fund Management, Walt Disney, Disney, Financial Times, CNBC, Marvel Entertainment, Peltz Locations: Miami , Florida, Iger, Disney

☆ Rupert Murdoch pulls Fox News-style channel off the air in UK after failing to build an audience
▼ + stars: | 2024-03-05 | by ( Jon Passantino | Oliver Darcy | ) edition.cnn.com time to read: +3 min

After building a global newspaper empire and witnessing the ratings and profits success of the right-wing Fox News Channel in the US, Murdoch sought to break into the UK television business, replicating the opinion-driven talk format. “A large proportion of our live viewing is already through streaming on televisions and we intend to continue to grow this. Clips will continue to be shared through social media,” Taunton said. “More and more, audiences are consuming video news and opinion online through their phones and this evolution is set to continue. “Creating professional quality, TV-like video that does well digitally – via streaming services and social media – will be the focus of future investment for all our brands, including Talk.”

Persons: Rupert Murdoch, Scott Taunton, ”, Murdoch, ” Taunton, Piers Morgan, Morgan, ” Morgan, that’s, Tucker Carlson, Don Lemon, It’s, “ Organizations: New, New York CNN, Fox News, CNN, Fox News Channel, BBC, Sky News, YouTube Locations: New York, TalkTV

Toeing the line in Miami BeachAmerica’s corporate elite were everywhere in Miami at the Future Investment Initiative conference, Saudi Arabia’s latest bid to showcase its extensive wealth and deepen ties with Western business. DealBook’s Lauren Hirsch was on hand to report on the financiers and Hollywood A-listers who made the trip. The Saudis are using their vast oil wealth to become one the world’s biggest investors and forge closer relationships with Wall Street, Silicon Valley and more. (So too did former Trump officials including Steven Mnuchin, the former Treasury secretary; Mike Pompeo, a previous secretary of state; and Jared Kushner, Trump’s son-in-law.) Attendees mingled over wine, which is banned in Saudi Arabia, and Carbone’s spicy rigatoni.

Persons: Jamal Khashoggi —, Prince Mohammed bin Salman, DealBook’s Lauren Hirsch, Steve Schwarzman, Blackstone, Barry Sternlicht, Alex Karp, Brian Grazer, Gwyneth Paltrow, Steven Mnuchin, Mike Pompeo, Jared Kushner, Trump’s Organizations: Future Investment Initiative, Saudi, Hollywood, Starwood, Palantir, Trump, Treasury Locations: Miami Beach, Miami, Silicon Valley, Saudi Arabia

☆ Silicon Valley Venture Capitalists Are Breaking Up With China
▼ + stars: | 2024-02-21 | by ( Erin Griffith | ) www.nytimes.com time to read: +1 min

DCM Ventures, a Silicon Valley venture capital firm, began investing in China’s start-ups in 1999. The move reaped such blockbuster returns that in 2021, DCM said it planned to “double down” on its strategy of investing in China, the United States and Japan. DCM’s messaging is one example of an industrywide shift happening between Silicon Valley investors and Chinese start-ups. The about-face stems from the tense relationship between the United States and China as they jockey for geopolitical, economic and technological primacy. The countries have engaged in a trade war amid a diplomatic rift, enacting tit-for-tat restrictions including U.S. moves to curb future investments in China and to scrutinize past investments in sensitive sectors.

Organizations: Ventures, China’s, The New York Times Locations: Silicon, China, United States, Japan, South Korea

The two sides issued a joint communique, stating Japan's long-term support in helping Ukraine achieve economic stability. Japan hopes the conference will build momentum for international support for Ukraine as the war drags on and attention has diverted to the Gaza situation. The conference is largely about reconstruction and investment in Ukraine, but it’s also about Japan’s national security. Its support for Ukraine comes amid fear of China’s increasingly assertive military actions in the region. Japan, in cooperation with other Group of Seven members, hopes to link the Tokyo conference to a separate Ukraine reconstruction conference to be held in Germany in June.

Persons: Fumio Kishida, Kishida, ” Kishida, “, Denys Shmyhal, ”, it’s, Yoko Kamikawa Organizations: TOKYO, “, Ukraine, of, Japan External Trade Organization, Russia, ”, Seven Locations: Japan, Ukrainian, Ukraine, “ Ukraine, Gaza, East Asia, States, Tokyo, Germany

☆ Phoenix Suns owner Mat Ishbia forms new investment group called Player 15
▼ + stars: | 2024-02-14 | by ( Jessica Golden | ) www.cnbc.com time to read: +2 min

Mat Ishbia, majority owner of the NBA's Phoenix Suns, talks to the media during his introductory press conference at the Footprint Center in Phoenix, Arizona, on Feb. 8, 2023. Phoenix Suns owner Mat Ishbia is forming a new sports, entertainment and real estate investment group as a single unifying place for his investments. The new investment or holding company will be called the Player 15 Group, the company announced Wednesday. It will house the National Basketball Association's Phoenix Suns, the Women's National Basketball Association's Phoenix Mercury and the newly acquired G-League team for the Suns. The group follows similar one-stop shop investment groups such as Fenway Sports Group, Harris Blitzer Group and The Kraft Group.

Persons: Mat Ishbia, Ishbia, Harris Organizations: Phoenix Suns, Footprint, Basketball, Phoenix Mercury, League, Suns, NBA, CNBC, Footprint Center, Phoenix, Mercury, Fenway Sports Group, Harris Blitzer Group, The Kraft Group, United Wholesale Mortgage, Forbes, Michigan State University Locations: Phoenix , Arizona, Phoenix

He fought hard in state after state, even as the front-runner amassed a delegate advantage that would be virtually impossible to overcome. Haley decided to skip Nevada’s presidential caucuses next Thursday in favor of a state primary election two days earlier that does not award delegates. Trump could embarrass Haley in her home state of South Carolina later in the month, where the former president has a loyal following. In New Hampshire's recent primary, for example, Trump won a decisive victory against Haley backed by his popularity among traditional Republican voters. The Haley campaign has already rolled out leadership teams and “Women for Nikki” chapters in all 15 Super Tuesday states.

Persons: Bernie Sanders, Hillary Clinton, Nikki Haley, she's, Donald Trump, Haley, Joe Biden, David Urban, Biden, ” Urban, she’s, ”, Sanders, Trump, “, “ Nikki Haley, “ birdbrain, HALEY, Nachama Soloveichik, She's, Soloveichik, Eric Levine, Betsy Ankney, Susie Wiles, Ken Griffin, Paul Singer, ” She's, “ He’s, He’s, Ronna McDaniel, Hopper, Trumper, ” Hopper, isn't, Nikki ”, Koch, Emily Seidel, Michael Palmer, Seidel, Palmer, Haley's, Republican pollster Neil Newhouse, ” ___ Organizations: COLUMBIA, Democratic, GOP, Republican, Trump, Washington Post, Monmouth University, Biden, New York, South, AP VoteCast, Capitol, Haley, Prosperity, AFP, ” ___ Peoples Locations: Iowa, New Hampshire, Vermont, South Carolina, New, York, Florida, South Carolina’s, Michigan, South Carolina , Michigan, Tennessee , North Carolina , Arkansas, Virginia, California, New York

☆ PGA Tour secures up to $3 billion from U.S. investors as LIV Golf merger hangs in the balance
▼ + stars: | 2024-01-31 | by ( Jessica Golden | ) www.cnbc.com time to read: +3 min

The PGA Tour logo is seen during the third round of the Travelers Championship at TPC River Highlands in Cromwell, Connecticut, on June 24, 2017. A U.S. consortium has agreed to invest up to $3 billion into the PGA Tour, the professional golf organization announced on Wednesday. Under the terms of the deal, the investor, Strategic Sports Group, will become a minority owner in PGA Tour enterprises, the for-profit entity of the PGA Tour. "Today marks an important moment for the PGA Tour and fans of golf across the world," PGA Tour Commissioner Jay Monahan said. "By making PGA Tour members owners of their league, we strengthen the collectives investment of our players in the success of the PGA Tour," Monahan said.

Persons: LIV, PIF, Jay Monahan, " Monahan, Fenway Sports Group's John Henry, Arthur Blank, Steve Cohen, Tom Ricketts, Wyc Grousbeck, John Henry, Monahan, Henry, Yasir Al, Rumayyan, Critics, Prince Muhammad bin Salman, LIV Golf, Phil Mickelson, Dustin Johnson, Brook Koepka, John Rahm Organizations: PGA Tour, Strategic Sports Group, Saudi, PGA, Fenway Sports, Atlanta Falcons, Arthur Blank , New York Mets, Chicago Cubs, Boston Celtics, Fenway Sports Group, Saudi Public Investment Fund, Saudi Public Investment, CNBC, Justice Department Locations: Cromwell , Connecticut, U.S, Arthur Blank ,, Saudi Arabia, Saudi

PEBBLE BEACH, Calif. (AP) — The PGA Tour is getting a $3 billion investment from Strategic Sports Group in a deal that would give players access to more than $1.5 billion as equity owners in the new PGA Tour Enterprises. PGA Tour Commissioner Jay Monahan was holding a conference call with players about the deal that was finalized Tuesday night. Political Cartoons View All 253 Images“By making PGA Tour members owners of their league, we strengthen the collective investment of our players in the success of the PGA Tour,” Monahan, who will be CEO of PGA Tour Enterprises, said in the formal announcement. While specific details of the equity ownership program were not announced, the initial grants would be based on career accomplishments, recent achievements and PGA Tour status. The European tour was part of the framework agreement on June 6, and it has a strategic alliance with the PGA Tour.

Persons: LIV Golf, Jay Monahan, ” Monahan, Marc Attanasio, Arthur Blank, Steven Cohen, Wyc Grousbeck, Tom Werner, John Henry, Marc Lasry, Alec Scheiner, ”, Henry, Woods, Patrick Cantlay, Adam Scott, Jordan Spieth, Webb Simpson, Peter Malnati, Yasir Al, Sen, Richard Blumenthal, Conn, LIV, Dustin Johnson, Brooks Koepka, Phil Mickelson, Bryson DeChambeau, PIF, Jon Rahm, Tyrrell Hatton, ___ Organizations: Strategic Sports Group, Tour Enterprises, PGA Tour, SSG, Associated Press, Washington Post, Public Investment Fund, PGA, SSG —, Tour, Fenway Sports Group, Milwaukee Brewers, Atlanta Falcons, New York Mets, Boston Celtics, Boston Red Sox, Milwaukee Bucks, Cleveland Browns, RedBird, Fenway Sports, PGA Tour Enterprises, Saudi, Monday, PIF Locations: Calif, Saudi, Saudi Arabia, PIF, Mexico

☆ Big M&A and Bob Iger's future: 13 media executives make their anonymous 2024 predictions
▼ + stars: | 2023-12-20 | by ( Alex Sherman | ) www.cnbc.com time to read: +14 min

Executive 2: Bob Iger will, again, extend his contract as Disney CEO Earlier this year, Disney CEO Bob Iger renewed his contract through 2026. This executive predicted "fool me five times, shame on me." This executive predicted Peltz and Rasulo will win their campaign and both join the board. This person predicted Disney would purchase privately held Candle Media to acquire Moonbug Entertainment, the owner of CoComelon. This executive predicted Yaccarino would either lose patience or find her job increasingly pointless and leave the company in 2024.

Persons: Andrew Ross Sorkin, Walt Disney Company Bob Iger, Michael M, David Zaslav, Slaven Vlasic, NBCUniversal, Brian Roberts, Roberts, Donna Langley, Bob Iger, Iger, Nelson Peltz, Jay Rasulo, Marco Bello, Peltz, Rasulo, Disney's, Dana Walden, Dana Walden Jason Laveris, Disney Entertainment Dana Walden, Walden, Bob Chapek, Andrew Wilson, Wilson, Chris Licht wouldn't, McCarthy, Andrew Wilson Michael Newberg, Kevin Mayer, Mayer, Bryan van der Beek, Tom Staggs, Staggs, Jayson Tatum, Kyle Terada, NBCUniversal's Peacock, Alec Martinez, Gray, Discovery's Max, Jeff Zucker, Lady Michelle Obama's, Michelle Obamas, Cheriss, Gerry Cardinale, Jeff Shell, RedBird, Shari Redstone's, David Ellison, Byron Trott, Zucker, Mark Thompson, Linda Yaccarino, X Linda Yaccarino, Vox, Jerod Harris, Yaccarino, CNBC's Julia Boorstin, Boorstin, Elon Musk's, Jason LaVeris, Barbie, Mario, Oppenheimer, LightShed's Greenfield Organizations: Walt Disney Company, New York Times, Santiago, Getty, Jazz, Lincoln Center, Warner Bros ., Comcast, Warner Bros, Discovery, Disney, Trian Fund Management, Future Investment Initiative, Summit, Bloomberg, Filmmagic, Disney Entertainment, Electronic Arts, CNBC, Candle Media, Iger, Media, Moonbug Entertainment, Apple Boston Celtics, Golden State Warriors, USA, National Basketball Association, NBA, Apple, The College, ESPN, College, NHL, MLB, Vegas Golden Knights, Florida Panthers, Mobile, National Hockey League, Diamond Sports Group, Scripps, Gray Television, Las Vegas Golden Knights, Arizona Coyotes, Phoenix Suns, Street Journal, Netflix, Hulu, Max, Paramount, RedBird, Paramount Global, CNN Worldwide, CNN, NurPhoto, BDT, The Ritz, Carlton, FilmMagic, Mario Bros Locations: New York City, Disney, Miami , Florida, Las Vegas , Nevada, Laguna Niguel, Dana Point , California

Trian Fund Management on Thursday announced it was nominating its CEO, Nelson Peltz, and former Walt Disney CFO Jay Rasulo to the media giant's board, as the firm wages a contentious proxy fight with Disney. The firm announced it was seeking two board seats for Peltz and another media executive, following what it called "significant value destruction and missteps" that the board oversaw. Trian's proxy fight comes as Disney CEO Bob Iger tries to right the ship after a broad restructuring that resulted in thousands of layoffs. Disney has said the proxy fight is apparently in part due to a personal grudge held by Peltz's ally and former Marvel boss Ike Perlmutter. Trian has oversight of shares owned by Perlmutter, who has been an outspoken critic of Disney CEO Bob Iger.

Persons: Nelson Peltz, Walt Disney, Jay Rasulo, Trian, Rasulo, Disney, Bob Iger, Peltz's, Ike Perlmutter, Perlmutter, Morgan Stanley, James Gorman, Jeremy Darroch Organizations: Trian Fund Management, Future Investment Initiative, Summit, Trian, Management, Walt, Disney, Company, Peltz, Marvel, Sky Locations: Miami , Florida

☆ Peltz's renewed fight for Disney board seats keeps pressure on CEO Iger to right the ship
▼ + stars: | 2023-11-30 | by ( Paulina Likos | ) www.cnbc.com time to read: +4 min

Activist investor Nelson Peltz's renewed fight for Disney (DIS) board seats is a positive for shareholders because he will push for a level of financial discipline that the company has lacked. Peltz's Trian Partners, a major Disney shareholder, said Thursday it will launch a new challenge to get board representation. As part of its release, Trian said the investment firm's Disney stake is currently worth roughly $3 billion. DIS YTD mountain Disney YTD Peltz will "keep the heat on Disney and this is a positive for us as shareholders," Jim said Thursday while urging new Club members to "buy Disney right here, right now." As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

Persons: Nelson Peltz's, Peltz's Trian, Trian, Jim Cramer, Trian's, Ike Perlmutter, Perlmutter, Morgan Stanley, James Gorman, Sir Jeremy Darroch, Gorman, he's, Jim, Peltz, Jim —, Iger, we're, We're, Jim Cramer's, Nelson Peltz, Marco Bello Organizations: Disney, Peltz's Trian Partners, Marvel, Sky, CNBC, Trian Fund Management, Future Investment Initiative, Summit, Bloomberg, Getty Locations: Miami , Florida

Activist investor Nelson Peltz and his firm are seeking more than two seats on Disney's board, according to a person familiar with the matter, setting the stage for a proxy fight. "Mr. Peltz, in partnership with Isaac Perlmutter, a former Disney executive, intends to take its case to shareholders. Mr. Perlmutter owns 78% of the shares that Mr. Peltz claims beneficial ownership of, or more than 25 million of the 33 million shares," Disney said in a statement. Disney shares are up about 6% this year, far underperforming the S&P 500. Peltz had earlier pushed for a seat on Disney's board after Trian took an approximately $800 million stake in Disney.

Persons: Nelson Peltz, Peltz, Disney, Trian, Morgan Stanley, James Gorman, Jeremy Darroch, Francis deSouza, Sir Jeremy Darroch, Ike Perlmutter, Bob Iger, Perlmutter, Isaac Perlmutter, Robert A, Iger, – CNBC's Alex Sherman Organizations: Trian Fund Management, Future Investment Initiative, Summit, Disney, Sky, Peltz, Disney's, CNBC Locations: Miami , Florida

☆ Angola's new diamond mine opens against backdrop of weak demand
▼ + stars: | 2023-11-27 | by ( Miguel Gomes | ) www.reuters.com time to read: +3 min

An employee looks at a rough diamond at "Flanders Manufacturing", as the G7 weighs a ban on Russian diamond imports to reduce revenues for Moscow's war in Ukraine, Antwerp, Belgium, October 30, 2023. Angola's state-controlled diamond miner Catoca found the Luele diamond deposit at the project, previously known as Luaxe, in 2013 in one of the largest discoveries in the diamond industry in more than half a century. De Beers, the world's largest rough diamond producer by volume, estimates 2022 global rough diamond production at 121 million carats. Demand for rough diamonds has been weak in recent months with India - cutter and polisher of 90% of the world's rough diamond - asking the global miners to stop selling it the gemstones to manage accumulated stocks. Catoca, in which Russia's sanctions-hit Alrosa (ALRS.MM) owns 41%, currently holds a 50.5% stake in the Luele project.

Persons: Johanna Geron, Catoca, Paul Zimnisky, De Beers, Luele, Richard Chetwode, Zimnisky, Miguel Gomes, Polina Devitt, Felix Njini, David Evans Organizations: REUTERS, Rights, Reuters, Thomson Locations: Ukraine, Antwerp, Belgium, Rights LUANDA, Angola, U.S, China, India

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

Our experts answer readers' investing questions and write unbiased product reviews (here's how we assess investing products). As a financial planner, I've witnessed plenty of big investment mistakes. In my opinion as a financial planner, you need to invest if you want to grow wealth. Avoiding investments altogetherThere's no shortage of investment mistakes you can make. Have a strategic way to determine how much cash you truly need on hand — then consider investing the rest.

Persons: I've, —, Get, they'll, Warren Buffett Organizations: Service, SEC, Invest

☆ The fate of OpenAI hangs in the balance
▼ + stars: | 2023-11-21 | by ( Brian Fung | ) edition.cnn.com time to read: +6 min

That has only reinforced the impression that OpenAI’s boardroom drama could take an unexpected turn at any moment. First came the board’s sudden promotion of OpenAI’s chief technology officer, Mira Murati, as Altman’s replacement on Friday — made in the same breath as Altman’s firing. Whether Altman is working for Microsoft or OpenAI won’t change the ultimate result, Nadella argued to Swisher, which is that Microsoft benefits from his work. Much is still unclear about the board’s exact reasons for firing Altman. OpenAI’s newest interim CEO, Emmett Shear, has denied that the firing was due to any “specific” disagreement on AI safety.

Persons: that’s, Sam Altman, Monday, Altman, Satya Nadella, ” Nadella, Kara Swisher, we’re, That’s, Mira Murati, —, Murati, Altman’s, Ilya Sutskever, OpenAI, Nadella, Swisher, Marc Benioff, Emmett Shear, it’s, I’ve, ”, Charlie Warzel Organizations: CNN, Microsoft, Microsoft’s Locations: Silicon Valley

☆ Global asset managers talk up China as long-term bet
▼ + stars: | 2023-11-08 | by ( ) www.reuters.com time to read: +3 min

REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsHONG KONG, Nov 8 (Reuters) - Top executives at global asset managers on Wednesday talked up China at an event in Hong Kong on Wednesday, championing long-term investment opportunities in an economy battling to break free of pandemic disruption. "Long term, (China) has to be part of a global investment portfolio." Citadel Securities CEO Peng Zhao called China a driver of growth and innovation and said it was "baffling" to think otherwise. He also said Citadel doubled its Hong Kong headcount in the face of pandemic-induced challenges, leveraging the talent the city hosts and its connectivity to other markets. Quinn told the Hong Kong event on Tuesday that wealth flow from mainland China to Hong Kong has grown 3 to 4 times this year.

Persons: Dado Ruvic, Mark Wiedman, Wiedman, Mike Gitlin, Lei Zhang, Anne Richards, Invesco, Andrew Schlossberg, Peng Zhao, Zhang Yichen, Noel Quinn, Quinn, Kane Wu, Xie Yu, Sumeet Chatterjee, Christopher Cushing Organizations: REUTERS, West, Global Financial, Investment Summit, European Chamber of Commerce, Capital, Fidelity International, Citadel Securities, Citadel, Trustar, HSBC Group, Thomson Locations: HONG KONG, China, Hong Kong, West, Singapore

☆ Global asset managers bullish on China after policy shift
▼ + stars: | 2023-11-08 | by ( ) www.reuters.com time to read: +3 min

REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsHONG KONG, Nov 8 (Reuters) - Economic policy shift in China and the investment opportunities it is creating are drivers for long-term bets in the country by global asset managers, top executives said on Wednesday. "China is the world's second-largest capital market" after the U.S., the head of BlackRock's (BLK.N) global client business, Mark Wiedman, said at the Global Financial Leaders Investment Summit in Hong Kong. "Long term, (China) has to be part of a global investment portfolio." At the Hong Kong event, hosted by the Hong Kong Monetary Authority, Fidelity International CEO Anne Richards said China was a key part of the global economy and that fact will not change soon. Quinn told the Hong Kong event on Tuesday that wealth flow from mainland China to Hong Kong has grown by 3 to 4 times this year.

Persons: Dado Ruvic, Mark Wiedman, Wiedman, Mike Gitlin, Gitlin, Pan Gongsheng, Anne Richards, Andrew Schlossberg, Noel Quinn, Quinn, Zhang Qingsong, Kane Wu, Xie Yu, Sumeet Chatterjee, Christopher Cushing Organizations: REUTERS, Global Financial, Investment, Capital, People's Bank of China, Securities Times, Hong Kong Monetary Authority, Fidelity International, HSBC Group, Thomson Locations: HONG KONG, China, U.S, Hong Kong, Singapore

☆ Saudi Arabia says will host Arab and Islamic summits to discuss Gaza conflict
▼ + stars: | 2023-11-08 | by ( ) www.reuters.com time to read: +1 min

Saudi Arabia's Minister of Investment Khalid Al Falih gestures during the opening session of the Future Investment Initiative Conference in Riyadh, Saudi Arabia, October 26, 2021. REUTERS/Ahmed Yosri/File Photo Acquire Licensing RightsSINGAPORE, Nov 8 (Reuters) - Saudi Arabia will host summits of Arab and Islamic nations in coming days to discuss the Israeli-Palestinian conflict, Saudi Arabia's investment minister said on Wednesday. "We will see, this week, in the next few days Saudi Arabia convening an emergency Arab summit in Riyadh," said Saudi investment minister Khalid Al-Falih, at the Bloomberg New Economy Forum in Singapore. "In a few days you will see Saudi Arabia convening an Islamic summit," he said. Falih also said Saudi Arabia would convene a summit with African nations, without specifying a date.

Persons: Investment Khalid Al Falih, Ahmed Yosri, Khalid Al, Ebrahim Raisi, Falih, Tom Westbrook, Maha El, Shri Navaratnam Organizations: Saudi, Investment, Future Investment Initiative, REUTERS, Rights, Bloomberg, Economy, of Islamic, Thomson Locations: Riyadh, Saudi Arabia, Rights SINGAPORE, Saudi, Singapore, of Islamic Cooperation, Iranian, Tehran, China, Maha El Dahan, Dubai

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