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☆ Walmart, Chipotle are splitting the wealth of a record stock market in a way they haven't in decades
▼ + stars: | 2024-03-31 | by ( Cheryl Winokur Munk | ) www.cnbc.com time to read: +9 min

For Chipotle, it's the first stock split in the company's 30-year history, and its announcement echoed Walmart's. Both are hoping, through the availability of an employee stock purchase plan and financial education, they'll get more workers to invest. Chipotle, even further out on the market chart, has shares nearing $3,000 — its stock split is to be effective June 26. ESPP versus fractional sharesEven without a stock split, employees could have already purchased shares of their company, or at least fractional shares, through a brokerage account. Company stock and financial educationSplitting a stock and having a generous ESPP can only go so far when it comes to encouraging employees to buy the company stock.

Persons: they'll, Michael Kestenbaum, Chipotle, Dan Kapinos, Clemens Kownatzki, Aalap Shah, Pearl Meyer, SoFi, Kownatzki, Larry Fink, Kestenbaum Organizations: Walmart, Companies, West Coast, Google, Pepperdine Graziadio Business, Khan Academy, Lyra Health Partners, Bank of America, Employees Locations: Aon

☆ Congressman presses Elon Musk to provide SpaceX satellite services for US defense forces in Taiwan, report says
▼ + stars: | 2024-02-25 | by ( John L. Dorman | Katherine Tangalakis-Lippert | ) www.businessinsider.com time to read: +5 min

A Congressman is urging Elon Musk to give SpaceX Starshield access to US forces in Taiwan. AdvertisementElon Musk is facing pressure to provide SpaceX's Starshield satellite network to US defense personnel in Taiwan, according to Forbes. However, the outlet described a "group of US lawmakers" were involved in the calls for Musk to provide satellite access to US defense forces in Taiwan. The letter then called on Musk to brief the select panel regarding Starshield's capabilities in Taiwan by March 8, Forbes reported. The request could present challenges for Musk, who has considerable business ties in China, where Tesla has a significant manufacturing presence.

Persons: Elon Musk, Forbes, —, Elon, Mike Gallagher, Musk, Gallagher, Taiwan's, Lai Ching, Tesla, hasn't, Joseph Wu Organizations: SpaceX, Service, Forbes ., Forbes . Wisconsin GOP, US Defense Department, Forbes, Street, Chinese Communist Party, New York Times, United States Congress, Times, Business Locations: Taiwan, China, Forbes, Forbes . Wisconsin, Russian, Starshield, Hong Kong

What makes the retirements particularly noteworthy is that none of the chairs were at risk of losing their position due to the term limits that House Republicans impose on their committee leaders. “They would clearly rather be home with their family than in Washington with a dysfunctional Congress,” said Republican strategist Doug Heye. Photos You Should See View All 33 ImagesThe second retirement announcement came from the new chair of a special committee focused on China. Lucas, who chairs the House Science, Space and Technology Committee, said he's not considering stepping down any time soon. Heye, the Republican strategist, said the retirements of McMorris Rodgers, Green and Gallagher wouldn't make sense in normal times.

Persons: ”, Doug Heye, “, ” McMorris Rodgers, Billy Tauzin, Henry Waxman, Gallagher, Alejandro Mayorkas, Green, ” Green, McMorris Rodgers, she's, I've, ” Gallagher, Frank Lucas, ” Lucas, “ It's, there's, they're, Lucas, he's, Don Young, ‘ Lucas, Byron Donalds, “ We're, ” Donalds, Pete Aguilar, Gallagher “, ” Aguilar, Richard Hudson, ” “ I'm, ” Hudson, Heye, ” Heye Organizations: WASHINGTON, GOP, Energy, Commerce, impeaching, Fox, Electoral, Wednesday, Homeland Security Committee, Science, Technology, Rep, House Democratic Caucus, Republicans, Republican, House Republican, Democratic, “ Locations: Washington, China, Wisconsin, Alaska

☆ A 39-year-old GOP congressman who rejected his party's push to impeach Alejandro Mayorkas won't run for reelection: 'Congress is no place to grow old'
▼ + stars: | 2024-02-11 | by ( John L. Dorman | ) www.businessinsider.com time to read: +2 min

Gallagher was one of just four House Republicans to vote against the impeachment of Mayorkas. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementRep. Mike Gallagher, the 39-year-old Wisconsin lawmaker who has long been viewed as a rising GOP star, won't seek reelection days after he rejected his party's push to impeach Homeland Security Secretary Alejandro Mayorkas. "Electoral politics was never supposed to be a career and, trust me, Congress is no place to grow old." (The GOP plans to bring up the vote again with the impending return of House Majority Leader Steve Scalise of Louisiana.)

Persons: Mike Gallagher, wouldn't, Gallagher, Mayorkas, —, Alejandro Mayorkas, we've, Biden, Steve Scalise, Democratic Sen, Tammy Baldwin Organizations: Republicans, Chinese Communist Party, Service, GOP, Homeland, Marine Corps, Congress, Armed Services, Intelligence, Cyberspace, Commission, House Republicans, House, Democratic Locations: Wisconsin, Mexico, Louisiana

☆ Top House China hawk to retire, opening seat in battleground Wisconsin
▼ + stars: | 2024-02-10 | by ( Rebecca Picciotto | ) www.cnbc.com time to read: +2 min

His seat in Wisconsin's 8th congressional district is particularly valuable, given the state's battleground status and House Republicans' current rail-thin majority. Despite occasional resistance to his party, Gallagher is still an essential GOP vote representing a key swing state. Trump won Wisconsin in 2016 but lost it to President Joe Biden in 2020. In 2022, Gallagher won roughly 72% of the vote against several third-party candidates but no formal Democrat opponent. He was also appointed to the helm of the House's high-profile China committee, which was created at the start of last year.

Persons: Mike Gallagher, Gallagher, Alejandro Mayorkas, Donald Trump's, Trump, Joe Biden, Gallagher's, Kristin Lyerly, Christopher Wray Organizations: U.S, Capitol, Chinese Communist Party, Marine Corps, House Republicans, Homeland, Trump, Wisconsin, Badger, Democrat, Democratic, GOP, CCP Locations: Wisconsin's, Wisconsin, Washington, China

☆ These 4 Republicans voted against impeaching DHS Secretary Alejandro Mayorkas, sinking the GOP's efforts
▼ + stars: | 2024-02-06 | by ( Brent D. Griffiths | Bryan Metzger | ) www.businessinsider.com time to read: +4 min

Four Republicans joined all House Democrats in voting down what would have been the first impeachment of a Cabinet official in nearly 150 years. Mayorkas' impeachment was not expected to go anywhere. But senators from both parties have repeatedly made clear that they have a particular ire reserved for Mayorkas' impeachment. Before Tuesday's vote, McClintock issued a scathing 10-page letter to his colleagues denouncing their impeachment push. "[T]aking the course outlined by the [Homeland Security Committee] is bad politics and bad policy," McClintock wrote in his letter.

Persons: —, Alejandro Mayorkas, Mike Johnson, Mike Gallagher of, Ken Buck, Tom McClintock, Blake Moore, Steve Scalise, Gallagher, Ken Buck of Colorado, Tom McClintock of, McClintock, Mayorkas, Sen, Kevin Cramer, Mitt Romney, Buck, Romney, Axios Organizations: Service, Homeland, Republicans, House Democrats, Business, GOP, Capitol, Senate, Mayorkas, North Dakota Republican, Utah Republican, [ Homeland Security, Democrats, Supreme, Republican Locations: Mike Gallagher of Wisconsin, Ken Buck of Colorado, California, Utah, Washington, China, Ken Buck of, Tom McClintock of California, Huff

☆ What You Need to Know About the OpenAI Drama
▼ + stars: | 2023-11-20 | by ( ) www.wsj.com time to read: +1 min

News of OpenAI CEO Sam Altman's surprise ouster dominated tech news this past weekend, and it continues to swirl today. Altman and others have also pushed for a new board at OpenAI. Mira Murati, OpenAI's chief technology officer, had briefly held the position after Altman was removed. ... Those clients will need to know that Microsoft’s vital code can’t be scrambled by a Silicon Valley soap opera." Part of the backdrop: investor enthusiasm for the potential of AI technology, which has driven several stocks higher this year.

Persons: Sam Altman's, doesn't, Altman —, Greg Brockman — aren't, Altman, Brockman, OpenAI, Emmett Shear, Mira Murati, Joanna Stern, Heard, Dan Gallagher's Organizations: Microsoft

☆ House Republican committee leader says Trump is too old to be the GOP nominee: 'No boomers for nominee'
▼ + stars: | 2023-09-01 | by ( Brent D. Griffiths | ) www.businessinsider.com time to read: +3 min

Rep. Mike Gallagher said Trump is simply too old to be the GOP's presidential nominee. Gallagher, who is 39, told a Milwaukee TV station that he has "a no-boomer policy right now." "You know, obviously, I prefer someone younger to be the nominee," Gallagher, who represents Wisconsin, told WISN 12 NEWS, a local Milwaukee TV station. Gallagher said he "intend[s] to support the nominee" when repeatedly pressed on what he would do if Trump reclaims the title. When asked what he would do if Trump won the nomination, Gallagher would only say "I intend to support the nominee."

Persons: Mike Gallagher, Trump, Gallagher, Biden, Donald Trump, Ron DeSantis, Trump's, There's, Barack Obama's, Vivek Ramaswamy, Democratic Sen, Tammy Baldwin, Gallagher's Organizations: Milwaukee TV, Service, GOP, Trump, Florida Gov, Democratic Locations: Milwaukee, Wall, Silicon, Wisconsin, China

Employers added 187,000 jobs in August, above expectations and in line with a labor market that is rebalancing back to normal, the Labor Department reported on Friday. Other labor market data released this week showed a gradual softening of demand for workers from employers. And private payroll firm ADP’s monthly jobs survey for August found employers added 177,000 jobs in the month, below expectations. “Clearly, the labor market is softening,” says Tony Welch, chief investment officer at Signature FD. The downshift reverses a period of high growth for the labor market coming out of the pandemic.

Persons: ”, Venkat Balakrishnan, Scott Hamilton, Tony Welch Organizations: Labor Department, Federal Reserve, Resources, Compensation Consulting Locations: Washington

☆ Top Republican China hawk says White House investment restrictions fall short
▼ + stars: | 2023-08-18 | by ( Chelsey Cox | ) www.cnbc.com time to read: +5 min

WASHINGTON — A leading House Republican voice on the national security threat posed by China said the White House's plan to restrict outbound investment in the Chinese military and defense companies falls short of addressing the real problem. The Wisconsin Republican is the chairman of the House Select Committee on the Chinese Communist Party and a leading voice in the House on the risks of U.S. investment in China. The House CCP Committee has flagged around 50 firms, including machinery, aircraft and technology firms and created a de facto blacklist. Yellen has already signaled that she intends to keep any investment restrictions "narrowly targeted" to protect U.S. national security, and insists they are not intended to weaken China's economy. "Even though these policies may have economic impacts, they are driven by straightforward national security considerations," she said in an April speech.

Persons: Mike Gallagher, WASHINGTON —, Joe Biden's, Gallagher, Janet Yellen, Yellen Organizations: U.S, Capitol, Republican, Treasury Department, Wisconsin Republican, Chinese Communist Party, CCP, The, House CCP, BlackRock, CNBC, White House Locations: China, United States, Wisconsin, Mexico, Canada, BlackRock

☆ US risks 'funding our own destruction' if investor capital flows to Chinese defense firms, key lawmaker says
▼ + stars: | 2023-08-03 | by ( Filip De Mott | ) www.businessinsider.com time to read: +3 min

Forthcoming restrictions should cover US participation in Chinese public markets, he said. "If American capital continues to flow to Chinese military companies, we are at risk of funding our own destruction." A "sizable portion" of that money goes directly to tech companies with ties to China's military and the Chinese Communist Party, he added. His comments follow earlier US efforts to curb Chinese access to critical technologies, such as semiconductors, quantum computing, and artificial intelligence. Meanwhile, foreign investors have been souring on China in recent months as the country's post-COVID economic rebound has disappointed.

Persons: Mike Gallagher, Biden, —, Gallagher, BlackRock Organizations: Service, Financial Times, White, Chinese Communist Party, Communist, Government, Wall Street, BlackRock Locations: China, Wall, Silicon, Wisconsin, MSCI

The House Select Committee on the Chinese Communist Party sent letters to four separate U.S. venture capital firms, including Qualcomm's venture arm, expressing "serious concern" about their investments in Chinese tech startups. The letters, which were made public on Wednesday, were sent to GGV Capital, GST Ventures, Qualcomm Ventures, and Walden International. Qualcomm Ventures, for example, made 13 investments in Chinese A.I. Walden, a smaller firm, was identified as a particularly significant backer of Chinese AI companies. He said at the time he found there was "broad support" among venture capitalists and others to keep U.S. asset managers from investing in Chinese AI firms.

Persons: Mike Gallagher, Wisconsin Republican Mike Gallagher, Raja Krishnamoorthi, Janet Yellen, Antony Blinken, Gallagher, Krishnamoorthi, SenseTime, GGV, Didi, Megvii, Abu, Walden, Intellifusion, Neil Shen helming Organizations: U.S, Capitol, Chinese Communist Party, GGV, Ventures, Qualcomm Ventures, Walden International, Wisconsin Republican, Treasury, New York Times, Qualcomm, Tiger Global Management, Tiger Global, Denglin Technology, Georgetown's Center for Security, Emerging Technology, Macquarie Group, GSR Ventures, Center for Security, Horizon Robotics, Silicon Valley, CNBC, U.S . Commerce Department, Street, Sequoia Capital, Sequoia Locations: Illinois, China, U.S, Silver, Denglin, Silicon Valley, San Francisco, Shanghai, Beijing, Singapore, Megvii, Sequoia China

☆ Musk discusses his new company xAI, 'superintelligence,' and China
▼ + stars: | 2023-07-13 | by ( Lauren Feiner | ) www.cnbc.com time to read: +7 min

The event was billed as a conversation about the future of AI and came on a day that Musk launched his own new AI company, xAI. "I think a maximally curious AI, one that is just trying to sort of understand the universe is, I think, going to be pro-humanity," Musk said. He said the idea that a "digital superintelligence" could supplant the Chinese Communist Party itself seemed to resonate. Musk even said he believes the Chinese government would be open to collaborating on an international framework around AI regulation. Musk acknowledged he has "some vested interest in China" but ultimately believes "China is underrated" and that "the people of China are really awesome."

Persons: Elon Musk, Porte, Musk, Ro Khanna, Mike Gallagher, Gallagher, Xi Jinping, China's, Janet Yellen, John Kerry, he's Organizations: SpaceX, Tesla, Twitter, Viva Technology, Porte de, Chesnot, U.S, House Armed Services Committee, Chinese Communist Party, xAI, Motion, Communist Party, CCP, optimist, Netflix, CNBC, YouTube Locations: Paris, France, China, Taiwan, United States, West

☆ Man City climb four points clear of Arsenal in title race
▼ + stars: | 2023-05-06 | by ( Lori Ewing | ) www.reuters.com time to read: +4 min

City's victory, coupled with an Arsenal loss on Sunday to Newcastle United, would all but clinch the Premier League title for the treble-chasers who stretched their winning league run to 10 games. Liverpool notched up a sixth straight Premier League win to maintain their pursuit of a top-four spot. KANE HEADERKane headed Tottenham in front in first-half injury time to move up to second place in the all-time Premier League goalscorers list. The win vaulted Spurs to sixth in the table with 57 points from 35 games, six points behind fourth-placed United, who have played two games fewer. Wolves climbed 10 points clear of the relegation zone with 40 points, while Villa remained in eighth after their second consecutive loss.

☆ Haaland at it again as Manchester City cut gap to Arsenal
▼ + stars: | 2023-04-15 | by ( Martyn Herman | ) www.reuters.com time to read: +4 min

LONDON, April 15 (Reuters) - Manchester City goal machine Erling Haaland reached yet another milestone in his incredible debut season in the Premier League when his two goals helped his side to beat Leicester City 3-1 and move to within three points of leaders Arsenal on Saturday. With Arsenal in action at West Ham United on Sunday, Manchester City seized their chance to apply more pressure by dismantling 19th-placed Leicester before halftime. City now have 70 points from 30 games with Arsenal on 73. Villa have 50 points, with Tottenham on 53 and fourth-placed Manchester United and Newcastle United both on 56. Newcastle and Manchester United, who face Nottingham Forest on Sunday, have played fewer games than Villa and Tottenham.

REUTERS/Florence LoWASHINGTON, April 10 (Reuters) - The leader of a U.S. congressional committee on China said on Monday he was concerned about electric carmaker Tesla Inc's (TSLA.O) dependency on China, a day after the company revealed plans to open a Megapack battery factory in Shanghai. Mike Gallagher, the Republican chair of the House of Representatives' select committee on China's Communist Party, said he would like to know how Tesla's CEO Elon Musk balances U.S. government support for Tesla and its operations in China. "I'm concerned about this," Gallagher told Reuters when asked about the battery factory. "Tesla seems entirely dependent, A, on the largesse of the federal government via tax breaks, and B, upon access to the Chinese market," Gallagher said. Tesla generated $18.15 billion in revenue from China last year, accounting for over one fifth of its total revenue.

☆ Burberry's Lee stages an ode to British heritage in debut runway show
▼ + stars: | 2023-02-21 | by ( Suban Abdulla | ) www.reuters.com time to read: +2 min

LONDON, Feb 20 (Reuters) - Faux fur, oversized coats and hot water bottles dominated Burberry’s (BRBY.L) runway as Daniel Lee presented his vision for the British heritage label at London Fashion Week on Monday. Burberry's mackintosh-style trench coat was re-imagined in a muted khaki with green faux fur lapels. English rose patterned tailoring sat alongside chunky rubber boots with an equestrian twist and cosy square toed shearling and faux fur shoes in the Autumn Winter 2023 collection. Monday's show follows the unveiling of Burberry's new logo: a sleeker elongated typeface and a campaign steeped in "Britishness". Lee previously created a buzz at Italy's Bottega Veneta with pillowy leather clutch handbags and slip-on heels.

☆ Republican Gallagher to lead new U.S. House China select committee
▼ + stars: | 2022-12-08 | by ( ) www.reuters.com time to read: +2 min

WASHINGTON, Dec 8 (Reuters) - Republican U.S. Representative Mike Gallagher was named on Thursday to lead a select committee being created in the U.S. House of Representatives to focus on economic and security competition with China. Gallagher, a former Marine counterintelligence officer who has served on the House Armed Services Committee, has been a vocal critic of China's Communist government. House Republican leader Kevin McCarthy had said he would create a select committee focused on China if he is elected speaker when Republicans take control of the House in January. "The Chinese Communist Party is the greatest geopolitical threat of our lifetime," McCarthy said in a statement as he announced Gallagher's selection. Getting tough on China, the United States' top geopolitical competitor, has become an area of bipartisan agreement, although Democrats and Republicans differ to some degree in their priorities.

American comedian Leo Gallagher has died at the age of 76, according to his family. Gallagher passed away from organ failure while in hospice care in his Palm Springs, California, home, his son-in-law told NBC News. 1 comedian in America for 15 years, with comedy specials airing on Showtime and MTV. In his career spanning decades, Gallagher hosted 14 Showtime specials and around 3,500 live comedy shows, according to his website. Toward the end of his career, the comedian starred in Geico commercials and in his first movie, "The Book of Daniel."

☆ Someone paid $440,000 for the Bible used in 'The Shawshank Redemption'
▼ + stars: | 2022-11-06 | by ( Stephanie Stacey | ) www.businessinsider.com time to read: +2 min

The Bible used in "The Shawshank Redemption" sold for about $441,000 in an online auction. Early in the film, nefarious prison warden Norton hands Dufresne the Bible, telling him "Salvation lies within." The inscription in the Bible used in The Shawshank Redemption. Turning the page, Warden Norton reveals the outline of the hammer Dufresne used to tunnel his way out of the jail. According to the Propstore auction listing, "only one rock hammer Bible was finished for the pivotal scene, as the process of cutting the hammer outline was precise and time-consuming."

☆ 'Superman' and superstar memorabilia worth 11 million pounds up for auction
▼ + stars: | 2022-10-03 | by ( Hanna Rantala | ) www.reuters.com time to read: +3 min

Returning to an in-person event following a pandemic pause, this year's auction boasts an extended catalogue of over 1,500 lots with an estimated total worth of 11 million pounds ($12.3 million). Music memorabilia is being introduced as a new category this year, getting its own dedicated day. 1/7 Propstore CEO Stephen Lane stands with Superman's (Christopher Reeve) complete costume from "Superman" franchise movies at a Propstore facility in Rickmansworth, Britain, September 27, 2022. Propstore's June auction in Los Angeles was a record-breaker with 2,000 lots selling for over $10 million, he said. Propstore's entertainment memorabilia live auction will be held at the BAFTA headquarters in central London, with bidding also available online or via telephone, Nov. 3-6.

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