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☆ Puck's Matt Belloni on Paramount-Skydance merger talks: Still see the deal happening
▼ + stars: | 2024-04-30 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailPuck's Matt Belloni on Paramount-Skydance merger talks: Still see the deal happeningMatt Belloni, Puck founding partner, joins 'Squawk Box' to discuss the departure of Paramount CEO Bob Bakish, the impact on Paramount's merger talks with Skydance, and more.

Persons: Matt Belloni, Puck, Bob Bakish, Skydance Organizations: Paramount

☆ F1's fanbase is shifting — and the 'Netflix effect' is only part of that
▼ + stars: | 2024-04-30 | by ( Chris Hawes | ) www.cnbc.com time to read: +6 min

Carlos Sainz of Ferrari during second practice ahead of the Formula 1 Las Vegas Grand Prix at Las Vegas Strip Circuit in Las Vegas, United States on November 17, 2023. Proponents of the "Netflix effect" often point to a poll taken in 2022 which found 28% of American adults considered themselves to be F1 fans, with more than half crediting "Drive to Survive." If this were true it would mean there were an incredible 72 million F1 fans in the U.S. alone. This argument runs out of road slightly however, when you consider that only 2 million Americans tuned in to watch the 2023 Miami Grand Prix. Today, F1 fans are estimated to be around 40% female, up from just 8% in 2017, as well as significantly more culturally diverse.

Persons: Carlos Sainz, Ferrari, Jakub Porzycki, Nielsen, it's, Toni Cowan, Brown, Cowan, Zak Brown, McLaren, It's, Buzz Radar, TJ Adeshola, Aston Martin, McLaren Unboxed, Lando Norris, Oscar Piastri, Thaier Organizations: Las Vegas, Nurphoto, Netflix, ESPN, IndyCar, NASCAR, Prix, Miami Grand Prix, CNBC, North, Anp, Getty, YouTube, Liberty Media, Aston, Aston Martin Racing, Buzz, Formula, sudani Locations: Las Vegas, United States, U.S, North America, North American, Nevada, Aston Martin, Australia, Bahrain

☆ Watch Live: Tony Award Nominations Being Announced
▼ + stars: | 2024-04-30 | by ( Michael Paulson | The New York Times | ) www.nytimes.com time to read: +1 min

PinnedThe rollout of this year’s Tony Award nominations has just begun on CBS. For leading actor in a play: William Jackson Harper of “Uncle Vanya,” Leslie Odom Jr. of “Purlie Victorious,” Liev Schreiber of “Doubt,” Jeremy Strong of “An Enemy of the People” and Michael Stuhlbarg of “Patriots.”For leading actress in a play: Betsy Aidem of “Prayer for the French Republic,” Jessica Lange of “Mother Play,” Rachel McAdams of “Mary Jane,” Sarah Paulson of “Appropriate” and Amy Ryan of “Doubt.”For leading actor in a musical, the nominators chose: Brody Grant of “The Outsiders,” Jonathan Groff of “Merrily We Roll Along,” Dorian Harewood of “The Notebook,” Brian d’Arcy James of “Days of Wine and Roses” and Eddie Redmayne of “Cabaret.”For leading actress in a musical, the nominators chose: Eden Espinosa of “Lempicka,” Maleah Joi Moon of “Hell’s Kitchen,” Kelli O’Hara of “Days of Wine and Roses,” Maryann Plunkett of “The Notebook” and Gayle Rankin of “Cabaret.”The nominees for best musical, which is the most coveted prize because it often has the highest economic impact, are: “Hell’s Kitchen,” “Illinoise,” “The Outsiders,” “Suffs” and “Water for Elephants.”The nominations are being announced by Jesse Tyler Ferguson and Renée Elise Goldsberry. Those nominations not announced on CBS are to be announced on the Tony Awards YouTube channel at 9 a.m. The nominations were chosen by a group of 44 individuals, generally expert on theater (many of them are artists or arts administrators) but with no financial stake in any of the eligible shows. The nominators are required to see all eligible shows (there were 36 this season); the committee started with 60 people, but got smaller as members recused themselves because they missed a show or developed a conflict of interest.

Persons: Tony, William Jackson Harper, “ Uncle Vanya, ” Leslie Odom Jr, “, ” Liev Schreiber, ” Jeremy Strong, Michael Stuhlbarg, Betsy Aidem, ” Jessica Lange, ” Rachel McAdams, “ Mary Jane, ” Sarah Paulson, Amy Ryan, Brody Grant, ” Jonathan Groff, ” Dorian Harewood, Brian d’Arcy James, Eddie Redmayne, Eden Espinosa, ” Maleah Joi, ” Kelli O’Hara, ” Maryann Plunkett, Gayle Rankin, ”, Jesse Tyler Ferguson, Renée Elise Goldsberry Organizations: CBS, “ Patriots, ”, “, YouTube Locations: French Republic

☆ Japanese yen surges after hitting 34-year low
▼ + stars: | 2024-04-30 | 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 EmailJapanese yen surges after hitting 34-year lowMarc Chandler, Bannockburn Global Forex chief market strategist, joins 'Squawk Box' to discuss news of the Japanese yen popping yesterday after a suspected intervention from the Japanese government, impact of the Fed's interest rate path on the yen, and more.

Persons: Marc Chandler Organizations: Bannockburn Global Forex Locations: Bannockburn

☆ Goldman sees 10% downside for Tesla even after China self-driving progress
▼ + stars: | 2024-04-30 | by ( Alex Harring | ) www.cnbc.com time to read: +1 min

Tesla shares could cool following Monday's rally as obstacles remain to achieving full self-driving technology in China, according to Goldman Sachs. But Goldman analyst Mark Delaney has a $175 price target, which implies a 9.8% downside from the stock's last closing price. "Importantly, Tesla will also need to navigate government rules on data access, localization, and AI which could complicate technology sharing within/outside of China." Tesla shares opened down more than 3% on Tuesday. Despite Monday's rally, Tesla stock is still down almost 22% in 2024 as the company contends with sales challenges.

Persons: Goldman Sachs, Goldman, Mark Delaney, Delaney, Tesla Locations: China

☆ My kids don't have any grandparents, and it's left a void
▼ + stars: | 2024-04-30 | by ( Molly Wadzeck Kraus | ) www.businessinsider.com time to read: +6 min

I'm grateful for the people we've met in the community who have made connections with my kids. Though no one can replace their grandparents, I'm grateful for these intergenerational friendships. Though my kids won't know their own grandparents, I've intentionally looked for other ways to bring intergenerational relationships into their lives. My kids' grandparents can never be replaced, but I'm grateful for my communityA local grandmother recently invited me for tea. They take an interest in my older children, asking them about their passions, hobbies, and interests.

Persons: we've, I'm, —, pang, Nana, I've, they've Organizations: Service, Research

☆ IMF chief warns of emerging market risk with high U.S. interest rates
▼ + stars: | 2024-04-30 | by ( Matt Clinch | ) www.cnbc.com time to read: +1 min

International Monetary Fund (IMF) Managing Director Kristalina Georgieva speaks during a briefing on the Global Policy Agenda at IMF headquarters during the IMF/World Bank Spring Meetings in Washington, DC on April 18, 2024. Kristalina Georgieva, the managing director of the International Monetary Fund, played down the prospect of any negative impact from a monetary policy divergence between Europe and the U.S., but said issues could be more acute in emerging markets. The benchmark rates of most advanced economies soared in recent years, as central banks aimed to tame inflation following the Covid-19 pandemic. A high U.S. interest rate environment is traditionally bad news for emerging markets, as it makes their debts — often priced in U.S. dollars — more expensive. "It is a much more serious issue for countries where the impact of high interest rates in the United States are more profound — in many emerging market economies," Georgieva told CNBC's Silvia Amaro in Brussels on Monday.

Persons: Kristalina Georgieva, Georgieva, CNBC's Silvia Amaro Organizations: Monetary Fund, IMF, International Monetary Fund Locations: Washington , DC, Europe, U.S, United States, Brussels, Japan

☆ The ex-Twitter director who went 'hardcore' for Elon Musk and slept on the floor of X's office is now working for his Meta nemesis, Mark Zuckerberg
▼ + stars: | 2024-04-30 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +4 min

Read previewA former top lieutenant at Elon Musk's Twitter says she's working for Mark Zuckerberg at Meta now. AdvertisementBesides lauding "the exceptional quality of the people" working at Meta, Crawford said she was attracted by Zuckerberg's "vision and intensity." Crawford's latest career move could be an indicator of big moves Zuckerberg may be making in his bid to vanquish Musk's X. "I do plan to keep using both X and Threads," she said in an email to BI on Monday. Representatives for Meta and X didn't immediately respond to requests for comment from BI sent outside regular business hours.

Persons: —, Mark Zuckerberg, I've, Esther Crawford, Crawford, he's, Zuckerberg, Elon Musk's, Elon, Musk's, hasn't, X didn't Organizations: Service, Elon, Twitter, Meta, Business, BI

☆ Can the workout supplement creatine really help you build muscle? What the experts say
▼ + stars: | 2024-04-30 | by ( Renée Onque | ) www.cnbc.com time to read: +1 min

"Typically within four to eight weeks [of] taking creatine, you'll probably gain anywhere from two to four pounds of lean body mass," Antonio says. "You have to combine training with creatine," Antonio says. It's not just your muscles that could benefit from taking creatine, either. A 2018 study published in Elsevier suggests that taking creatine supplements might improve short-term memory and reasoning skills in healthy individuals. "There's some evidence in endurance athletes that [creatine] will also help endurance," Antonio says.

Persons: Jose Antonio, Antonio, It's Organizations: Florida's Nova Southeastern University, CNBC, Elsevier, Harvard Health Publishing

☆ Euro zone inflation steady at 2.4%, keeping June rate cut in play as economy returns to growth
▼ + stars: | 2024-04-30 | by ( Jenni Reid | ) www.cnbc.com time to read: +3 min

Price rises in the euro area held steady at 2.4% in April, while the economy returned to growth in the first quarter, according to flash figures published Tuesday. Headline inflation of 2.4% was in line with the forecast of economists polled by Reuters. It is the seventh straight month the headline rate has been below 3%, despite a slight rebound in the rate in December due to energy prices. Core inflation, excluding energy, food, alcohol and tobacco, dipped to 2.7% from 2.9% in March. However, Martinez noted the slightly lower-than-expected fall in core inflation and volatility in some areas of services that had increased the inflation rates in France and Italy.

Persons: Price, Gerardo Martinez, Martinez, Jane Foley, Foley Organizations: Reuters, European Central Bank, Gross, ECB, CNBC, BNP, Rabobank Locations: Europe, France, Italy

☆ Higher-paid employees looking for work are having a tough time, and it could be a sign of a shift in the workplace
▼ + stars: | 2024-04-30 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +6 min

download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . In today's big story, we examine how tough the job market is for the well-paid employee . That's the current job trend, as higher-paid employees are having trouble finding work despite a historically strong labor market. iStock; Rebecca Zisser/BIThe so-called white-collar recession could also have a lasting impact on the job market for high earners. AdvertisementIt speaks to the broader theme of efficiency Big Tech companies have touted for the better part of a year .

Persons: —, Alyssa Powell, Insider's Aki Ito, BI's Emily Stewart, Aki, Rebecca Zisser, Wall, There's, Christine Ji, Kenneth Tan, Alexander Spatari, Abanti Chowdhury, Christine Ji's, Raymond James, Larry Adam, Goldman Sachs, Elon Musk, Premier Li Qiang, Beijing . Wang Ye, Musk, Li Qiang, Jensen Huang, Douglas Sacha, Getty, Bob Bakish, Shari, David Kohl, Shopify, Changpeng Zhao, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, George Glover Organizations: Business, Service, Hamptons, Big Tech, Tech, Amazon, Bank of America, Elon, Premier, AP Elon Musk's, Federal Reserve, Paramount Locations: America, Beijing ., Xinhua, China, New York, London

☆ US and Mexico withdraw joint bid to host 2027 FIFA Women’s World Cup
▼ + stars: | 2024-04-30 | by ( Kevin Dotson | ) edition.cnn.com time to read: +2 min

CNN —The US Soccer Federation and the Mexican Football Federation have withdrawn their joint bid to host the 2027 FIFA Women’s World Cup, the two organizations announced on Monday. The announcement of the winning 2027 bid will take place at the 74th FIFA Congress in May. CNN has reached out to FIFA for response to the announcement from the US and Mexico federations. “Hosting a World Cup tournament is a huge undertaking – and having additional time to prepare allows us to maximize its impact across the globe,” US Soccer President Cindy Parlow Cone said in a statement. The inaugural FIFA Club World Cup will take place in the country in 2025; the FIFA Men’s World Cup will be coming to North America in 2026 co-hosted by the US, Mexico and Canada; and in 2028, the summer Olympics will take place in Los Angeles.

Persons: ”, Cindy Parlow Cone, “ I’m, Ivar Sisniega Organizations: CNN, US Soccer Federation, Mexican Football Federation, FIFA, Brazilian Football Confederation, Royal Belgian Football Association, Royal Netherlands Football Association, German Football Association, FIFA Congress, Soccer, FIFA Club Locations: Mexico, United States, North America, Canada, Los Angeles, “

☆ Nearly 47 child migrants a day vanished in Europe since 2021, research reveals
▼ + stars: | 2024-04-30 | by ( Carlotta Dotto | ) edition.cnn.com time to read: +6 min

CNN —Around 47 children vanish every day in Europe, according to new research by cross-border journalism collective Lost in Europe showing more than 50,000 child migrants went missing after arrival over the past three years. The research builds on findings released in 2021 that revealed at least 18,000 child migrants disappeared upon arrival in Europe in the three years from January 2018 to December 2020. Out of 31 contacted countries, Lost in Europe received 20 responses, with seven lacking required data and 11 not responding — representing an improvement from 12 responses overall in 2021. Other significant countries of origin include Syria, Tunisia, Egypt, and Morocco, according to the data collected by Lost in Europe. Lost in Europe is a not-for-profit cross-border journalism project investigating the disappearance of child migrants in Europe.

Persons: Aagje Ieven, Ieven, ”, “, Maja Hitij, Patricia Durr, Adam Berry Organizations: CNN, Ghent University, United Nations, Lost, ECPAT, Austrian Ministry of, European Union, Migration Network Locations: Europe, Austria, Germany, Italy, Slovakia, Belgium, Switzerland, Ghent, Eisenhuttenstadt, Afghanistan, Syria, Tunisia, Egypt, Morocco, ”, Moria, Mytilene, Greece

☆ Read the email Fisker sent to staff warning of layoffs if the company can't correct course
▼ + stars: | 2024-04-30 | by ( Grace Kay | ) www.businessinsider.com time to read: +4 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewFisker warned employees on Monday that they could be laid off in two month and the company's facility could close if the company is unable to course correct. The company told staff it was bringing in a restructuring officer last week, according to a previous email viewed by BI. AdvertisementThree current employees told BI that everyone they had spoken to at Fisker said they had received the notice. Should this possibility materialize, the Company has an obligation to provide "conditional notice" that employees — including yourself — will be terminated on June 28, 2024.

Persons: —, Fisker, John DiDonato Organizations: Service, Business, BI, Worker, Fisker, Inc, Company Locations: Manhattan Beach , California, La Palma , California, Munich, Vienna, ____________

☆ Exclusive: GroundGame Health and SameSky Health are merging with $17 million from 7wireVentures and Elevance to get underserved patients access to care
▼ + stars: | 2024-04-30 | by ( Rebecca Torrence | ) www.businessinsider.com time to read: +6 min

The newly combined company also landed a $17 million Series A led by 7wireVentures. The venture firm is an existing investor in SameSky Health. Health insurance giant Elevance Health, formerly known as Anthem, an existing investor in GroundGame Health, also participated in the round. By addressing these barriers together, GroundGame CEO Susan Rawlings Molina said, GroundGame and SameSky can help more patients access healthcare while saving money for payers. While SameSky's technology can help underserved patients seek out care, GroundGame can close the loop by removing barriers to their access to that care, she said.

Persons: —, 7wireVentures, Susan Rawlings Molina, Molina, we're, SameSky, GroundGame, they're, Lee Shapiro, Alyssa Jaffee, Robert Garber, Glen Tullman, haven't, Abner Mason, Garber Organizations: Service, SameSky, Business, Health, 7wireVentures Industry Locations: Health, healthtech, SameSky

☆ U.S. Plan to Protect Oceans Has a Problem, Some Say: Too Much Fishing
▼ + stars: | 2024-04-30 | by ( Catrin Einhorn | ) www.nytimes.com time to read: +1 min

New details of the Biden administration’s signature conservation effort, made public this month amid a burst of other environmental announcements, have alarmed some scientists who study marine protected areas because the plan would count certain commercial fishing zones as conserved. The decision could have ripple effects around the world as nations work toward fulfilling a broader global commitment to safeguard 30 percent of the entire planet’s land, inland waters and seas. That effort has been hailed as historic, but the critical question of what, exactly, counts as conserved is still being decided. This early answer from the Biden administration is worrying, researchers say, because high-impact commercial fishing is incompatible with the goals of the efforts. “Saying that these areas that are touted to be for biodiversity conservation should also do double duty for fishing as well, especially highly impactful gears that are for large-scale commercial take, there’s just a cognitive dissonance there,” said Kirsten Grorud-Colvert, a marine biologist at Oregon State University who led a group of scientists that in 2021 published a guide for evaluating marine protected areas.

Persons: Biden, there’s, ”, Kirsten Grorud Organizations: Oregon State University

☆ AI has entered the workplace. 3 industry leaders discuss how businesses can embrace it.
▼ + stars: | 2024-04-30 | by ( Leila Jordan | ) www.businessinsider.com time to read: +4 min

As the new technology accelerates in skill and ubiquity, business leaders are racing to figure out what the relationship between workers and AI will look like in years to come. Business Insider's virtual event "Human-AI Collaboration: The Key to Workplace Efficiency and Innovation," presented by Dell Technologies, brought together a panel of experts to discuss the trials, triumphs, and future of AI. He discussed the major ways in which Dell is integrating AI into its processes, from increasing productivity for developers to automating content. "There are predictions that we could have two times, three times, even four times the employment demand for new job growth as a result of gen-AI and AI ethicists, AI translators, AI mediators, AI co-creative, AI legal, and compliance experts," Miscovich said. Working with AI from the ground floor can allow businesses to design the parameters that will guide AI's future presence in the workplace.

Persons: Matt Baker, Mozziyar Etemadi, Peter Miscovich, Tim Paradis, Baker, Miscovich, Etemadi Organizations: Service, Efficiency, Dell Technologies, Business, Dell, Northwestern Medicine, AIs

☆ Brexit border checks: Britain braces for less choice and higher prices on food imports
▼ + stars: | 2024-04-30 | by ( Hanna Ziady | Anna Cooban | ) edition.cnn.com time to read: +10 min

The new regime for food imports is perhaps the starkest example of the painful border bureaucracy that UK and EU businesses must contend with in the wake of Brexit. An additional cost of that scale will “significantly increase food prices and reduce choice,” the federation’s CEO Phil Pluck wrote in a letter to environment and food minister Steve Barclay earlier this month. But here too Brexit hasn’t helped, ending as it did the free movement of EU workers on whom British farmers had relied for decades. In addition to Brexit-related challenges, UK farmers have been squeezed by soaring input costs, including those of fertilizer, energy and labor. “I’m not hugely in favor of subsidies, I’m in favor of fair food prices,” Maddocks said.

Persons: Eddie Price, ”, Phil, Steve Barclay, Andrew Aitchison, Andrew Opie, “, Jack Bobo, “ It’s, Price, hasn’t, ” Tom Bradshaw, “ You’re, Chris Ratcliffe, Brexit, ” Philip Maddocks, I’m, ” Maddocks Organizations: London CNN, European Union, EU, Britain, Birmingham Wholesale, CNN, Chain Federation, British Retail Consortium, University of York, Food Systems, University of Nottingham, Birmingham Wholesale Market, Bank, National Farmers ’ Union, Bloomberg, Getty, PDM Locations: United Kingdom, Britain, France, Spain, artichokes, Italy, Birmingham, Dover, Port, Netherlands, Ireland, Germany, North Africa, England, Sandwich, Australia, New Zealand, English, Shropshire

☆ Fresh customer-fraud allegations against Globe Life
▼ + stars: | 2024-04-30 | by ( Susan Antilla | ) www.businessinsider.com time to read: +9 min

Read previewThe embattled insurer Globe Life and its subsidiary American Income Life face new allegations of fraud, kickbacks, and misclassifying its army of sales agents. Neither Globe, AIL, or any affiliated agencies have requested a correction on BI's series, which has been cited in all three short-seller reports. Spokespeople for Globe, AIL, and Arias did not respond to inquiries about the Viceroy report. Viceroy today published excerpts from a civil complaint alleging that Globe Life required recruits to purchase the course from Xcel for $149, $119 of which was kicked back to Globe Life, AIL, and agency executives, an allegation Globe has denied. "As you might expect, these sales tactics do not engender long-term retention of policies," the Viceroy report states.

Persons: —, AIL, Fraser Perring, Nate Koppikar, Panda, Arias, Erica Robertson, Robertson, Amy Williamson, Renee Zinsky, Fuzzy Panda, Jamie Winters, Winters, Viceroy, AIL's, Antonio – Organizations: Service, Viceroy Research, Globe, Business, Research, Orso Partners, Insurance Department, Pennsylvania, Arias Organization, Social, Organization, AIL, BI, Department, Xcel, Liberty National Life, Ohio Department of Insurance Locations: Texas, London, Globe, Maryland, Pennsylvania, Arias's Wexford, California, Xcel, Ohio, Antonio

☆ First British royal visits Ukraine since Russian invasion began
▼ + stars: | 2024-04-30 | by ( Catherine Nicholls | ) edition.cnn.com time to read: +3 min

CNN —The Duchess of Edinburgh has become the first member of the British royal family to visit Ukraine since Russia’s invasion in 2022, Buckingham Palace announced on Monday. The duchess is a champion of the UK’s Preventing Sexual Violence in Conflict Initiative and the United Nations’ Women, Peace and Security Agenda. Sophie met survivors of conflict-related sexual violence and torture, as well as children who were allegedly forcibly separated from their families by Russia, according to Buckingham Palace. Sophie, Duchess of Edinburgh lights a candle as she visits Saint Andrew's Church on April 29, 2024 in Bucha, Ukraine. In March 2023, Prince William visited the Ukrainian-Polish border to meet British and Polish troops and learn more about their collaboration in supporting Ukraine.

Persons: Duchess, Buckingham, Sophie, Edinburgh, Prince Edward , King Charles ’, “, ” “, ”, Anatolii, Volodymyr Zelensky, Olena Zelenska, ” Buckingham, Prince William Organizations: CNN, United Nations, CNN’s Royal, Ukraine, Andrew's Church, Democratic Locations: Edinburgh, Ukraine, Russia, Buckingham, Bucha, Kyiv, Kosovo, Sierra Leone, South Sudan, Democratic Republic of, Congo, Colombia

☆ Tuesday's analyst calls: Nvidia to get a boost from new chip, Ralph Lauren poised to jump
▼ + stars: | 2024-04-30 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +9 min

Tuesday's analyst calls focused on red-hot tech giant Nvidia, which is seen as benefitting from the release of its new Blackwell chip, the GB200. 7:02 a.m.: Deutsche Bank sees 33% upside for Live Nation on strong fundamentals Strong fundamentals could spell further upside for shares of Live Nation Entertainment , according to Deutsche Bank. Soff also applauded the company for expanding into new add-on services, including providing upselling opportunities and selling advertising on the Live Nation app. Although a potential regulatory investigation could curtail the stock, Soff doesn't believe that Live Nation stock will ultimately take much damage. 6:03 a.m.: Jefferies initiates Ralph Lauren at a buy, sees momentum with younger consumers Ralph Lauren is shaping up to be a quality growth stock, according to Jefferies.

Persons: Blackwell, Jefferies, Ralph Lauren, Benjamin Soff's, Soff, shouldn't, — Lisa Kailai Han, Airbnb, James Lee, Lee's, headwinds, Brent Thrill, Ashley Helgans, Ralph Lauren's, Helgans, Taylor Swift, Timothy Acuri, Acuri, Hopper, — Lisa Kailai Han — CNBC's Michael Bloom Organizations: CNBC, Nvidia, UBS, Deutsche Bank, Nation, Live Nation Entertainment, Mizuho, Paris, tailwinds, Paris Olympics, Chegg, Blackwell, Microsoft, Oracle Locations: Europe

☆ Shares of two big online education stocks tank more than 10% as students use ChatGPT
▼ + stars: | 2024-04-30 | by ( Michelle Fox | ) www.cnbc.com time to read: +3 min

As a result, Jefferies downgraded the stock to underperform from hold and lowered its price target to $4 from $7, suggesting 2% downside from Monday's close. Both stocks sank by more than 10% on Tuesday after issuing disappointing guidance in part because of students using AI tools such as ChatGPT. The rapid rise of artificial intelligence appears to be taking a toll on the shares of online education companies Chegg and Coursera . After Chegg's most recent results, Morgan Stanley lowered its price target to $6.50 from $7 and maintained its underweight rating. He maintained his neutral rating and cut his price target to $8 from $9.

Persons: James, Brent Thill, Jefferies, Chegg, Daniel L, Rosensweig, Nathan Schultz, Thill, ChatGPT, Morgan Stanley, Josh Baer, Schultz, Bryan Smilek, Coursera Organizations: LSEG, JPMorgan, StreetAccount Locations: Shepherdsville , Kentucky

☆ Strained Chinese cities struggle to pay home buying subsidies
▼ + stars: | 2024-04-30 | by ( ) www.cnbc.com time to read: +2 min

Chinese cities have promised subsidies and other incentives to prop up the ailing property sector but have failed to deliver, frustrating potential homebuyers. The 30-year-old now pays 6,000 yuan of her 8,000 monthly salary on the mortgage for the 1.1 million yuan apartment and another 1,800 yuan to rent another one, relying on her parents for other basic expenses. Weifang, with a population of more than 9 million and an economy larger than Croatia's, and dozens of other Chinese cities, have promised subsidies and other incentives to homebuyers to prop up the ailing property sector. But the real estate downturn also affects the ability of cities to lease land to developers, a key revenue source. This meant some local governments were unable to raise funds to pay the promised subsidies, frustrating buyers and casting doubts over future support measures.

Persons: Amy Wang, Wang, Christopher Beddor, Gavekal Organizations: People's, Communist Party Locations: Hangzhou city, Zhejiang province, China, Weifang, Shangqiu

☆ Bitcoin is heading to its worst month since 2022 and could be in for more chop in May
▼ + stars: | 2024-04-30 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +4 min

Bitcoin's seven-month rally is on pause heading into May, now that two key catalysts investors had been closely watching this year – the bitcoin ETFs and the halving – are now behind them. The flagship cryptocurrency has fallen nearly 14% in April, according to Coin Metrics, and is on pace to post its first negative month in eight, and its worst month since November 2022, when FTX collapsed. However, it's proved to be a winning month in the previous halving years of 2012, 2016 and 2020. On Tuesday, Hong Kong bitcoin ETFs began trading. "Whether it's the next month or two months, you'll start to see more wealth management firms approve the ETF on their platforms.

Persons: FTX, It's, bitcoin, Antoni Trenchev, Trenchev, it's, Lyn Alden, Swan, Jerome Powell, there's, Alden, Devin Ryan, you'll Organizations: Metrics, Lyn, Lyn Alden Investment, Federal Reserve, JMP Securities Locations: bitcoin, U.S, Hong Kong, Australia, Japan, Singapore, South Korea

☆ Saudi Arabia’s focus is on non-oil growth and momentum is strong, economy minister says
▼ + stars: | 2024-04-29 | 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 EmailSaudi Arabia’s focus is on non-oil growth and momentum is strong, economy minister saysFaisal Al Ibrahim, Saudi Arabia’s minister of economy and planning, discusses the economic impact of geopolitical tensions in the Middle East and provides an update on the kingdom’s Vision 2030 initiative.

Persons: Faisal Al Ibrahim, Saudi Organizations: Saudi

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