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5 things to know before the stock market Monday, May 6
  + stars: | 2024-05-06 | by ( Michele Luhn | ) www.cnbc.com   time to read: +3 min
Feeling optimisticStock futures were higher Monday after ending last week on a positive note in light of a weaker-than-expected jobs report. Last week, the Dow and Nasdaq rose 1.1% and 1.4%, respectively, while the S&P 500 added 0.5%. Buffett's back, all rightWarren Buffett speaks during the Berkshire Hathaway Annual Shareholders Meeting in Omaha, Nebraska on May 4, 2024. During the meeting, Buffett also fielded questions from shareholders, opined on the future of artificial intelligence and praised Fed Chair Jerome Powell for his work steering the economy. Final verdictCombination showing Former FTX CEO, Sam Bankman-Fried (L) and Zhao Changpeng (R), founder and chief executive officer of Binance.
Persons: Joseph Prezioso, Warren Buffett, Charlie Munger, Buffett, Greg Abel, Jerome Powell, Sam Bankman, Zhao Changpeng, Mike Segar, Benjamin Girette, Changpeng Zhao, Zhao, Justin Sullivan Organizations: Dow, Nasdaq, Traders, Federal Reserve, Disney, Anadolu Agency, Getty, Berkshire, CNBC, Oracle, Berkshire Hathaway's, Paramount, Reuters, Bloomberg Locations: Omaha , Nebraska, Omaha, San Rafael , California
Proxy advisory firm Institutional Shareholder Services on Thursday recommended that Walt Disney shareholders elect activist investor Nelson Peltz to the board in his bitter fight against CEO Bob Iger. While siding with Peltz, ISS told shareholders not to back Rasulo in the fight, citing his previous positioning as a potential successor to Iger. "Though we do not have any concerns about his ability to serve as an objective director, we recognize that Rasulo's potential presence might create added friction on the board," ISS said. Another proxy advisory firm, Glass Lewis, earlier this week endorsed Disney's slate of board nominees. Large institutional shareholders will often — but not always — vote based on the recommendation of either of the two proxy advisory firms.
Persons: Nelson Peltz, Bob Iger, Peltz, Jay Rasulo, Iger, Trian, Maria Elena Lagomasino, Disney, Blackwells, Roy Disney, Jamie Dimon, George Lucas, Glass Lewis, Lewis, — CNBC's Rohan Goswami Organizations: Walt Disney, New York Stock Exchange, Services, Trian Fund Management, Disney, ISS, JPMorgan Chase, Disney's
He appears to be flexing his unrivaled power with performative cruelty and firmly twisting the knife after Navalny's death. AdvertisementNavalnaya had unsuccessfully been trying to retrieve her son's body since Saturday. She was previously sent to the wrong morgue after multiple demands for the authorities to hand over her son's body, according to Yarmysh. Navalny's death — and the way the authorities have handled his body — are displays of his authoritarian power. No one should be fooled," Biden told reporters shortly after Navalny's death was announced.
Persons: , Alexey Navalny, Navalny, Vladimir Putin's, Joe Biden, Putin, Lyudmila Navalnaya, Alexey, Kira Yarmysh, Navalnaya, Yarmysh, Ivan Zhdanov, Alec Luhn, Simon Miles, Miles, Biden, Sergei Lavrov Organizations: Service, Business, YouTube, Guardian, Luhn, Soviet Union, Duke University's Sanford School of Public, Sky News, Kremlin Locations: Salekhard, Soviet, Moscow, St, Petersburg
Investor Byron Wien of Blackstone dies at 90
  + stars: | 2023-10-26 | by ( Michele Luhn | ) www.cnbc.com   time to read: 1 min
Byron Wien, noted investor whose annual "Ten Surprises" list became required reading on Wall Street, has died at age 90. His death was reported by Blackstone, where he spent the past 14 years, and was most recently vice chairman of its private wealth solutions business. Wien published his "Ten Surprises" list for 38 consecutive years, which was considered a must-read by many on Wall Street. In his most recent list, he predicted a bottom for financial markets would arrive by mid-2023, followed by a drastic rebound. He started the list tradition in 1986 when he was the chief U.S. investment strategist at Morgan Stanley.
Persons: Byron Wien, Blackstone, Wien, Morgan Stanley
A former Fox News employee sued the network Wednesday, alleging that the late Fox News chairman and CEO Roger Ailes sexually abused her for years. Ailes allegedly made it clear that if she tried to speak out or stop the abuse, Luhn would experience “severe personal humiliation and career ruin,” according to the suit. Luhn says in the suit that in 2011 she sent a letter to Fox’s general counsel detailing Ailes’ abuse. The suit says the network withheld over 30% of the payment for taxes. The sexual abuse that she suffered while working at Fox News was some of the worst imaginable,” said Luhn’s attorney, Barbara Whiten Balliette, a partner at Reid Collins & Tsai LLP.
Luhn filed a lawsuit on Wednesday alleging Fox News enabled and covered up the abuse. In a statement to Insider, Fox called the allegations against the network "meritless." The lawsuit named Fox News, Twenty-First Century Fox, and William Shine, a former Fox News executive who also had a brief stint in the Trump White House. The sexual abuse that she suffered while working at Fox News was some of the worst imaginable. "New York's Adult Survivors Act recognizes the lifelong trauma that sexual abuse victims can suffer.
Pelé, the Brazilian soccer icon who brought the World Cup trophy to his home country three times, becoming an international superstar and the highest-paid team athlete in the world at the time, has died. Pelé joined the Santos Football Club in Brazil in 1956 at age 15 as an inside forward. The club won the São Paulo league championships and, in 1962 and 1963, both the Libertadores Cup and the Intercontinental Club Cup. Brazil lost in the first round at the next World Cup, in 1966, after Pelé and others suffered injuries. Pelé closed out his World Cup career netting 12 goals in 14 games and remains the only soccer player to win the trophy three times.
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