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Labour's Sadiq Khan wins re-election as London mayor
  + stars: | 2024-05-04 | by ( ) www.cnbc.com   time to read: +1 min
Mayor of London Sadiq Khan hopes to convince U.S. tech firms to invest more in London. Sadiq Khan was re-elected as London's mayor, final results showed on Saturday, helping to cement the Labour Party's commanding lead over the governing Conservatives in local elections ahead of Britain's national vote later this year. For Labour, London is the latest of a number of councils and mayoralties it has won in the local elections, which took place on Thursday, inflicting heavy losses on Prime Minister Rishi Sunak's Conservatives. Opinion polls predict that Labour will win the next national election, propelling its leader Keir Starmer to power and ending 14 years of Conservative government in Britain. Khan, 53, who became the first Muslim mayor of the British capital in 2016, has pledged to build more social housing and work with a future national Labour government to boost police capacity.
Persons: London Sadiq Khan, Sadiq Khan, Rishi Sunak's, It's, Khan, Susan Hall, Keir Starmer, Rishi Sunak Organizations: U.S, Labour, Conservatives, Tory, Conservative, Labour Party, Labour government Locations: London, Britain
The FTC filed a complaint alleging that Scott Sheffield attempted to collude with representatives of OPEC to reduce oil and gas output to increase prices at the pump and inflate Pioneer's profits. "The FTC has a responsibility to refer potentially criminal behavior and takes that obligation very seriously," spokesman Doug Farrar told CNBC. In response, Exxon agreed to keep Sheffield off its board, the oil major said in a statement Thursday. The FTC alleged that Sheffield repeatedly held private conversations with high-ranking OPEC representatives to assure them that Pioneer and its competitors in the Permian Basin were working to keep oil output artificially low. "Notwithstanding, Pioneer and Mr. Sheffield are not taking any steps to prevent the merger from closing," the company said in the statement.
Persons: Scott Sheffield, Doug Farrar, Exxon, Sheffield, Sheffield's, Lina Khan, — CNBC's Pippa Stevens, Mary Catherine Wellons, Lina Khan's Organizations: Federal Trade Commission, Natural Resources, OPEC, Exxon Mobil, Pioneer, FTC, Justice Department, Wall Street, CNBC, Exxon, Sheffield
Shehbaz Sharif elected Pakistan's prime minister for second term
  + stars: | 2024-03-04 | by ( ) www.cnbc.com   time to read: +1 min
Pakistan's newly formed parliament elected Shehbaz Sharif on Sunday as prime minister for a second time, three weeks after uncertain national elections caused delays in the formation of a coalition government. Pakistan's newly formed parliament elected Shehbaz Sharif on Sunday as prime minister for a second time, three weeks after uncertain national elections caused delays in the formation of a coalition government. He beat Omar Ayub, the candidate backed by jailed former Prime Minister Imran Khan, who secured 92 votes. Sharif returns to the role he held until August when parliament was dissolved ahead of the elections and a caretaker government took over. "Shehbaz Sharif is declared to have been elected the prime minister of the Islamic Republic of Pakistan," National Assembly Speaker Ayaz Sadiq said, after announcing Sharif had secured 201 votes, above the required 169 votes in the house.
Persons: Shehbaz Sharif, Omar Ayub, Imran Khan, Sharif, Ayaz Sadiq, Khan Organizations: Sunni Ittehad Council, SIC Locations: Islamic Republic of Pakistan
Sal Khan, 31, earns $220,000 a year and lives with his parents in Houston. "I do think my relationship now has been the best with my parents than it has been before," Khan tells CNBC Make It. But that won't be the end of his living arrangement with this parents: Khan hopes to move his parents to his new home, too. The bulk of his savings are earmarked for more down payments on properties, Khan says. Sal Khan hopes that sharing his story will dispel the stigma about living with parents as an adult.
Persons: Sal Khan, Khan, Erik Mauck, that's, it's, Khan's, Nina Nguyen, Krishnan, Khan didn't Organizations: CNBC, Ohio State University, Bay Area, Costco, Gas, Wealthfront Locations: Houston, Pakistan, U.S, Bay, Chicago, Texas, California, Arizona, Florida
(Reuters) - The Pakistan Tehreek-Insaaf (PTI) party run by former Prime Minister Imran Khan has nominated party general secretary Omar Ayub as its candidate for prime minister, another party leader said on Thursday. Independent candidates backed by jailed former premier Imran Khan have won 92 seats in last week's election, making them the largest group, but they cannot form a government on their own, having run as individuals and not a party.
Persons: Imran Khan, Omar Ayub Organizations: Reuters, Insaaf Locations: Pakistan
Before his stint as prime minister, the younger Sharif was known more as a good administrator than a politician, having served as chief minister thrice in the country's largest province, Punjab. The deal was signed after Sharif personally called on IMF chief Kristalina Georgieva last June. Although defence and key foreign policy decisions are largely influenced by the military, Sharif will have to juggle relations with the U.S. and China, both major allies. He started his political career as the chief minister of Punjab in 1997 with a signature "can-do" administrative style. As chief minister, the younger Sharif planned and executed a number of ambitious infrastructure mega-projects, including Pakistan's first modern mass transport system in Lahore.
Persons: Asif Shahzad, Gibran Naiyyar Peshimam, Sharif, Nawaz Sharif, Nawaz Sharif's, Maryam, Imran Khan, Shehbaz Sharif, Khan, Shehbaz, Kristalina Georgieva, Tehmina Durrani, Ariba Shahid, Raju Gopalakrishnan Organizations: Pakistan Muslim League, Nawaz, Monetary Fund, IMF, U.S Locations: Gibran Naiyyar Peshimam ISLAMABAD, Sharif, London, country's, Punjab, Pakistan, Saudi Arabia, Qatar, China, India, Iran, Afghanistan, Lahore, Panama, Karachi
What's Next in Pakistan Election Deadlock
  + stars: | 2024-02-11 | by ( Feb. | At A.M. | ) www.usnews.com   time to read: +3 min
By Gibran Naiyyar PeshimamISLAMABAD (Reuters) - Pakistan's national election ended with no party winning a majority in parliament, in polls marred by militant violence, political turmoil and questions of transparency. The two, along with other smaller parties, form a coalition government in which Sharif or his brother is prime minister and important positions are given to other parties. The two parties were in government together for 16 months till August, with Bhutto Zardari as foreign minister and Sharif's brother Shehbaz as prime minister. BHUTTO ZARDARI PUSHES TO HEAD COALITION GOVERNMENTWhile Sharif and Khan's candidates won the most seats, no party can form government without the PPP. With both looking to keep the other out of power, the PPP strikes a deal to make the young Bhutto Zardari prime minister.
Persons: Gibran Naiyyar Peshimam, Nawaz Sharif, Imran Khan, SHARIF, Bilawal Bhutto Zardari, Benazir Bhutto, Bhutto Zardari, Shehbaz, Khan, BHUTTO ZARDARI, Sharif's, Gibran Peshimam, Sonali Paul Organizations: Monetary Fund, National Assembly, Pakistan Peoples Party Locations: Gibran Naiyyar Peshimam ISLAMABAD, Sharif, Pakistan
If no party wins a majority of 169 seats, the one with the biggest share can form a coalition government. The vote was overshadowed by violence, an unprecedented national shutdown of all mobile phone services and allegations of vote rigging. Pakistan’s national human rights body said there was no excuse for the hold-up and expressed concern about the lack of transparency. DEALS, DEALS, DEALSNo party won a majority of National Assembly seats. She accompanied her father at rallies, giving fiery and uncompromising speeches, and escorted him on polling day when he went to cast his vote.
Persons: hadn't, Imran Khan's, Salman Akram Raja, hasn’t, Nawaz Sharif, kingmaker, Asif Ali Zardari, Bilawal Bhutto, Zardari, Bhutto, Nawaz Sharif’s, Maryam Nawaz Sharif, Benazir Bhutto, Benazir’s, Zulfikar Ali Bhutto, Maryam Nawaz, Bilawal, Maryam, Shehbaz, Hamza Organizations: , National Assembly, U.S, Union, Court, Fair, PTI, Pakistan People’s Party, Nawaz Sharif’s Pakistan Muslim League Locations: LAHORE, Pakistan, — Pakistan, Lahore, Nawaz Sharif’s Pakistan, Punjab province
The strongly worded reaction from the Foreign Ministry insisted the vote was peaceful and successful. The U.S. State Department said that Thursday's vote was held under undue restrictions on freedoms of expression, association and peaceful assembly. In Thursday's vote, no political party gained a simple majority and independent candidates backed by imprisoned former Prime Minister Imran Khan took a lead in the vote count. Candidates backed by Khan’s Pakistan Tehreek-e-Insaf party won 100 out of the 266 seats up for grabs in the National Assembly. Also Saturday, the leader of a political party was wounded and two police officers killed in a clash in the country's northwest.
Persons: Imran Khan, Khan's, Nawaz Sharif, Khan, Mohsin Dawar, Zahid Khan Organizations: , Foreign Ministry, U.S . State Department, European Union, National Assembly, Pakistan Muslim League Locations: ISLAMABAD, — Pakistan, Pakistan, North Waziristan
One of Wall Street's favorite employee leverage tactics — non-compete agreements — is facing a major threat, and there could be far-reaching implications for how the financial industry does business. But it's also clear that Wall Street firms are under particular attention for the practice. With major Wall Street firms already having among the most unpopular back-to-work policies in the market, "Wall Street is already in a position where they are recognizing they don't have all the hands they had before," Chamberlin said. Shore recommends Wall Street firms undertake a thorough competitive analysis at every level in every department to ensure they are market competitive. Even if the FTC rule goes through, Wall Street firms still have options to protect their business.
Persons: Charles Scharf, Wells, Brian Thomas Moynihan, Jamie Dimon, JPMorgan Chase, Jane Fraser, Ronald O’Hanley, Robin Vince, BNY Mellon, David Solomon, Goldman Sachs, James Gorman, Morgan Stanley, General Mills, , Wall, it's, Kathy Hochul, that's, Covid, Laurie Chamberlin, Chamberlin, Lina Khan's, Khan, It's, David Fisher, Gilbert, Fisher, Juan A, Crowell, Arteaga, Paul ​ Webster, Matt Shore, Kareem Bakr, Webster, Leslie John, Ballard Spahr, John Organizations: Company, Bank of America, JPMorgan, Citigroup, BNY, Google, Apple, Pfizer, Exxon Mobil, General Electric, Procter, Gamble, Nike, Economic, Institute, Federal Trade Commission, North America, American College of Emergency Physicians, Davis, FTC, Supreme, Industry, Moring, Wall, Phaidon International, Wall Street Locations: Wells Fargo, Hart, Washington ,, New York, . California, U.S, Gilbert . Massachusetts, Oregon, Washington, Massachusetts
ISLAMABAD (Reuters) - Pakistan holds its national elections on Thursday as the country grapples with an economic crisis and political uncertainty following the ouster of former Prime Minister Imran Khan in 2022. Here are some facts about the main political figures trying to lead the nuclear-armed nation of 241 million people. NAWAZ SHARIFFormer prime minister Nawaz Sharif is considered a front-runner to lead the country, having buried a long-running feud with the country's powerful military, analysts say. Maryam, 50, was jailed along with her father shortly before the 2018 elections on corruption charges, which were later overturned. Nevertheless, Khan's Pakistan Tehreek-e-Insaf party has tried to wage an unorthodox election campaign using social media and covert canvassing.
Persons: Imran Khan, NAWAZ SHARIF, Nawaz Sharif, MARYAM NAWAZ SHARIF, Nawaz, Maryam, SHEHBAZ SHARIF, Shehbaz Sharif, IMRAN KHAN, BILAWAL BHUTTO ZARDARI Bilawal Bhutto Zardari, Benazir Bhutto, Bhutto Zardari, Asif Ali Zardari, Charlotte Greenfield, Raju Gopalakrishnan Organizations: Pakistan Muslim League, Nawaz, International Monetary Fund, Khan's Locations: ISLAMABAD, Pakistan, United Kingdom, Punjab, Pakistan's, Khan's Pakistan, Sindh province
By Fayaz Aziz and Mushtaq AliPESHAWAR, Pakistan (Reuters) - Colourful trucks with paintings of political leaders that once dotted Pakistan's roads and highways ahead of elections are missing this poll season, replaced mostly by the printing on posters and banners. Kaleidoscopic murals of flowers, Islamic motifs, calligraphy, snow-capped Himalayan peaks, local mosques and popular figures are renowned examples of Pakistani truck art. Before printing posters became widespread, truck paintings of leaders, particularly in the run-up to elections, were a much sought after campaign medium. The city in Pakistan's northwest is one of the country's major hubs for the art form. Ahmad said painters are now limited to regular truck art, with business also being hurt by rising prices.
Persons: Fayaz Aziz, Mushtaq Ali, Shakeel Ahmad, Imran Khan's, Imran Khan, Ahmad, Zaffar Ali, Nawaz Sharif, Ali, Bilawal Bhutto Zardari, Sohail Ghuri, Bansari Mayur, YP Rajesh, Raju Gopalakrishnan Organizations: Reuters, Supreme, Pakistan, YP Locations: Mushtaq Ali PESHAWAR, Pakistan, Peshawar, Pakistan's, Khyber Pakhtunkhwa
That sets the stage for a difficult road to recovery for whoever wins in a nation where no democratically elected prime minister has ever completed a full term in office. Pakistan's former Prime Minister Imran Khan attends a lawyers' convention in Lahore on September 21, 2022. Veteran Sharif will face a strong challenge, however, from first-time candidate for Prime Minister, Bilawal Bhutto Zardari, 35, son of slain former leader Benazir Bhutto. Manahil Ahmed, 23, called Pakistan’s political environment “particularly hostile” right now. For Pakistan’s military and police forces, the last year was the bloodiest in a decade.
Persons: Imran Khan, , Arif Ali, Nawaz Sharif, Sharif, Bilawal Bhutto Zardari, Benazir Bhutto, Khan –, Khan, Fareed Khan, , Rabiya Arooj, Khan’s, Bushra Bibi, Imran Khan's, Asad Zaidi, Pakistan’s, Farzana Shaikh, , , Murtaza Solang, Maryam Nawaz Sharif, Mohsin Raza, he’s, Raja Ikram, Ameer Hamza, Manahil Ahmed, Shaikh, Hussain Nadim, Maurice R, Greenberg, , Aamir Qureshi, Shoaib Tanveer, Baou Nadeem, ” Shaikh, Farooq Naeem, “ Sharif, He’s, Tim Willasey Organizations: Pakistan CNN —, Getty, PTI, World Bank, Pakistan, Bloomberg, The Royal Institute of International Affairs, CNN, for Research, Security Studies, Pakistan’s People’s Party, Pakistan Muslim League, Baloch Liberation Army, Yale University, Pakistan Army –, Workers, King’s College London Locations: Islamabad, Pakistan, Pakistan CNN — Pakistan, Lahore, AFP, Karachi, , Rawalpindi, Asia, Hafizabad, Khan’s, Khyber Pakhtunkhwa, India, Afghanistan, Iran, State Khorasan, restive Balochistan, Balochistan, Punjab, Sharif, States, China, British
Pakistan's embattled former Prime Minister Imran Khan was hit with a fresh 14-year jail sentence on Wednesday after a state court found him guilty of graft, just one day after being handed a 10-year term on a conviction of leaking state secrets. His wife Bushra Bibi was also sentenced to a 14-year jail term for graft; the case implicating the couple involved the illegal sale of state gifts for profit while Khan was in office. Previously, many political analysts saw him as the likely winner of Pakistan's upcoming general election on Feb. 8. A towering figure in Pakistani politics for decades, Khan — along with his supporters — says the charges and arrests are politically motivated. It is not clear whether the 10 and 14-year-sentences will be served consecutively or concurrently, though some media reports say the terms will be concurrent.
Persons: Imran Khan, Bushra Bibi, Khan, Khan —, Organizations: Pakistan, Bureau
Costs, Crackdown Put a Damper on Pakistan's Election Campaigns
  + stars: | 2024-01-31 | by ( Jan. | At P.M. | ) www.usnews.com   time to read: +3 min
By Ariba ShahidKARACHI (Reuters) - Higher living costs and political uncertainty have muted Pakistan's once boisterous election campaigns, with both candidates and those who supply them with materials bemoaning the need to do more with much less. Syed Arsalan Haider, a Karachi printer, said the cost of a square foot of banner was up by 130% since the last election. Khan, whose party won the last election, says the military wants to keep him from power, which the military denies. Meherbano Qureshi, a PTI candidate and daughter of the party's jailed vice chairman Shah Mehmood Qureshi, said people were scared to show their support and hang campaign material. (Reporting by Ariba Shahid in Karachi and Mubasher Bukhari in Lahore; Editing by YP Rajesh and Miral Fahmy)
Persons: Shahid, Imran Khan, Jawad Jiwani, Syed Arsalan Haider, Abdul Aziz, Taj Haider, Bilawal Bhutto Zardari, Faisal Subzwari, Khan, Meherbano Qureshi, Shah Mehmood Qureshi, Khurram Sher Zaman, They're, Ariba Shahid, Mubasher Bukhari, YP Rajesh, Miral Organizations: Monetary Fund, Pakistan People's Party, PTI, Mubasher, YP Locations: Shahid KARACHI, Pakistan, Karachi, festooned, Lahore
Pakistan's former Prime Minister Imran Khan, gestures as he speaks to the members of the media at his residence in Lahore, Pakistan May 18, 2023. Former Prime Minister of Pakistan Imran Khan has been sentenced to 10 years in jail on charges of leaking state secrets, his party Pakistan Tehreek-e-Insaaf (PTI) confirmed in a post on social media site X on Tuesday. The former national cricket captain became Pakistan's prime minister in 2018. What can be more ridiculous than that Pakistan has imprisoned its Prime Minister and Foreign Minister for exposing the foreign conspiracy! One month later, he was removed from power in a vote of no-confidence by opposition lawmakers alleging corruption and unconstitutional actions.
Persons: Imran Khan, Pakistan Imran Khan, Khan, Shah Mahmood Qureshi, Khan's Organizations: Former, PTI Locations: Lahore, Pakistan, Islamabad, Washington
That's a major reason why we took a stake in the company in April 2022 and a key growth area for the health insurance industry overall. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio. 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, Cigna, I've, Jim, It's, That's, Joe Biden, Biden, Lina Khan, Jim Cramer's, Ty Wright Organizations: Street, Humana, Express, Aetna, CVS Health, Cigna, Federal Trade Commission, Justice Department, FTC, CNBC, Bloomberg, Getty Locations: U.S, Louisville , Kentucky
Federal Trade Commission Chair Lina Khan speaks during The New York Times annual DealBook Summit in New York City on Nov. 29, 2023. Under her leadership, Khan said the FTC has brought 11 cases against mergers, and in five instances, the companies abandoned their plans after the agency filed suit. The lawsuit was long anticipated, as Khan rose to prominence for her 2017 Yale Law Journal article, "Amazon's Antitrust Paradox." Amazon has disputed both of the FTC's lawsuits, calling them "wrong on the facts and the law." Asked why she hasn't subscribed to Prime, Khan replied, "I just haven't."
Persons: Lina Khan, Khan, would've, hasn't Organizations: Federal Trade, New York Times, The New York Times, Summit, FTC, Facebook, Microsoft, Activision, Amazon, Yale, Amazon's, CNBC PRO Locations: New York City
[1/3] Former Pakistani Prime Minister Imran Khan pauses as he speaks with Reuters during an interview, in Lahore, Pakistan March 17, 2023. It has been conducting the trial in prison since Khan was indicted on the charges last month. The Islamabad High Court had ruled last week that holding Khan's trial inside jail premises on security concerns was illegal, and ordered it restarted in an open court. The 71-year-old former cricket star has been embroiled in a tangle of political and legal battles since he was ousted as prime minister. The election is shaping as a fight between Khan's party and that of another ousted former prime minister, Nawaz Sharif.
Persons: Imran Khan, Akhtar Soomro, Khan, Naeem Panjutha, Nawaz Sharif, Asif Shahzad, Kim Coghill, Raju Gopalakrishnan Organizations: Pakistani, Reuters, REUTERS, Court, Twitter, Thomson Locations: Lahore, Pakistan, ISLAMABAD, Islamabad, United States
Security officers escort Pakistan's former Prime Minister Imran Khan, as he appeared in Islamabad High Court, Islamabad, Pakistan May 12, 2023. The former cricket star has been embroiled in a tangle of political and legal battles since he was ousted as prime minister in a vote on no-confidence in 2022, which he denounced as unfair. "The court has ordered that Imran Khan be produced on Nov. 28," Khan's lawyer, Naeem Panjutha, said in a post on the social media platform X, formerly known as Twitter. A spokesperson for the law ministry, which will decide if Khan is to appear, did not immediately respond to a request for comment. The 71-year-old was jailed on Aug. 5 for three years for unlawfully selling state gifts during his tenure as prime minister from 2018 to 2022.
Persons: Imran Khan, Akhtar Soomro, Naeem Panjutha, Khan, Nawaz Sharif, Asif Shahzad, Kim Coghill, Robert Birsel Organizations: REUTERS, Rights, Court, Thomson Locations: Islamabad, Court, Pakistan, Rights ISLAMABAD
Pakistan's former Prime Minister Imran Khan, gestures as he speaks to the members of the media at his residence in Lahore, Pakistan May 18, 2023. REUTERS/Mohsin Raza/File Photo Acquire Licensing RightsISLAMABAD, Nov 22 (Reuters) - Pakistan's Supreme Court accepted on Wednesday a bail application from detained former Prime Minister Imran Khan, his lawyer said, a day after another court declared illegal his trial on charges of leaking state secrets. The 71-year-old was jailed on Aug. 5 for three years jail for unlawfully selling state gifts during his tenure as prime minister from 2018 to 2022. His lawyer said the Supreme Court had accepted the bid for bail. No date had been set for the hearing, he said, adding that the Supreme Court would seek input from the government on the application.
Persons: Imran Khan, Mohsin Raza, Naeem Panjutha, Khan, Nawaz Sharif, Sharif, Asif Shahzad, Robert Birsel Organizations: REUTERS, Rights, Twitter, Court, Thomson Locations: Lahore, Pakistan, Rights ISLAMABAD, Islamabad, United States
Former Pakistani Prime Minister Imran Khan speaks with Reuters during an interview, in Lahore, Pakistan March 17, 2023. REUTERS/Akhtar Soomro Acquire Licensing RightsISLAMABAD, Nov 21 (Reuters) - A Pakistani court on Tuesday declared the trial in jail of former Prime Minister Imran Khan on charges of leaking state secrets illegal, his lawyer said. "Islamabad High Court has declared illegal the notification for jail trial," said Naeem Panjutha, the lawyer, in a post on social media platform X. An order declared all proceedings of the trial conducted since Aug. 29 as void. "The proceedings and the trial conducted in jail premises in a manner that cannot be termed as an open trial stand vitiated," said the court order.
Persons: Imran Khan, Akhtar Soomro, Khan, Naeem Panjutha, Nawaz Sharif, Asif Shahzad, Ed Osmond, Nick Macfie Organizations: Pakistani, Reuters, REUTERS, Rights, Court, Thomson Locations: Lahore, Pakistan, Rights ISLAMABAD, Islamabad, United States
An old video of a dummy fighter jet set ablaze by supporters of former Pakistan Prime Minister Imran Khan in May 2023 in Mianwali, Pakistan, has been falsely captioned as showing scenes from a November 2023 attack at an air base in that city. A post on X (archived), formerly known as Twitter, shared the video on the day of the militant attack captioned: “Pak Airforce fighter jets up in flames. Meanwhile, Mianwali airbase attack still ongoing.” The video was also shared on Facebook (archived). Police arrested hundreds of supporters of ousted Prime Minister Imran Khan for violence following Khan's arrest on corruption charges in May, including attacks on state-owned buildings and vehicles. A video of a burning airplane is from protests in Mianwali, Pakistan, in May 2023, not from a militant attack in November.
Persons: Imran Khan, Read Organizations: Pakistan, Pakistan Air Force Training, Reuters, Twitter, “ Pak Airforce, Facebook, Hindustan Times, YouTube, Police, Thomson Locations: Mianwali, Pakistan, Shenyang
You think and think and think, and you still can't believe that things changed so radically in such a short period of time. So, let's pull apart Apple, Amazon, Meta and Alphabet to try to understand how unimportant what actually happened at these companies might be. Instead, Apple stock has climbed roughly 5% since it reported quarterly results on Nov. 2. Meta stock fell to $288 a share, down from $314, in a couple of sessions just because of that line in its earnings report. But like Apple and Amazon, Meta stock stabilized and has risen more than 14% since late October.
Persons: , Lina Khan's, let's, Khan, Apple, Jim Cramer's, Jim Cramer, Jim, Alexi Rosenfeld Organizations: Apple, U.S . Federal Trade Commission, NFL, Amazon, Web Services, Google, YouTube, Amazon Web Services, Meta, Microsoft, Federal, Treasury, Procter & Gamble, CNBC, Getty Locations: wearables, Philippines, Indonesia, Brazil, Vietnam, China, Israel, Gaza, GOOGL, New York City
Federal Trade Commission (FTC) Chair Lina Khan testifies before a House Judiciary Committee hearing on "Oversight of the Federal Trade Commission," on Capitol Hill in Washington, U.S., July 13, 2023. Surrounded by tech workers and VC investors in San Francisco, Khan reiterated her focus on artificial intelligence, an area her agency has been tasked with looking into by President Joe Biden's executive order this week. "We’re very much focused on using our laws to protect everybody: Consumers, but also workers," she said in a standing-room-only nightcap appearance in San Francisco on Thursday. Big Tech companies, particularly Amazon (AMZN.O) and Meta, view Khan, who rose to prominence after publishing a 2017 academic article pointing to Amazon’s practices as anticompetitive, as an impediment. Reporting by Krystal Hu and Greg Bensinger in San Francisco; Editing by Jamie FreedOur Standards: The Thomson Reuters Trust Principles.
Persons: Lina Khan, Kevin Wurm, Khan, Kahn, Joe Biden's, he'd, , Krystal Hu, Greg Bensinger, Jamie Freed Organizations: Federal Trade Commission, REUTERS, FRANCISCO, Federal Trade, Big Tech, D.C, Mission, Stanford University, Meta, Republican, Activision, Thomson Locations: Washington , U.S, Silicon, New York, San Francisco
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