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☆ NYCB shares jump after new CEO gives two-year plan for 'clear path to profitability'
▼ + stars: | 2024-05-01 | by ( Hugh Son | ) www.cnbc.com time to read: +2 min

The first-quarter loss, equal to 45 cents per share, compared to net income of $2.0 billion, or $2.87 per share a year earlier. When adjusted for charges included merger-related items, the loss was $182 million, or 25 cents per share, deeper than the 15 cents per share loss estimate from LSEG. "Since taking on the CEO role, my focus has been on transforming New York Community Bank into a high-performing, well-diversified regional bank," CEO Joseph Otting said in the release. "While this year will be a transitional year for the company, we have a clear path to profitability over the following two years." The bank will have higher profitability and capital levels by the end of 2026, Otting said.

Persons: Joseph Otting, Otting, Steven Mnuchin, NYCB Organizations: York Community Bank, New York Community Bank Locations: New

☆ Elon Musk and 'anti-Biden brain trust' bonded at exclusive Hollywood Hills dinner, report says
▼ + stars: | 2024-05-01 | by ( Katherine Tangalakis-Lippert | ) www.businessinsider.com time to read: +4 min

Read previewElon Musk, at an exclusive April dinner, commiserated with a group of billionaires about their distrust in Democratic politicians like Joe Biden, according to a new report by Puck. The outlet reported that Musk and venture capitalist David Sacks hosted the private event at Sacks' $23 million estate in the Hollywood Hills. This story is available exclusively to Business Insider subscribers. Related storiesRepresentatives for Musk, Sacks, and other dinner attendees identified by Puck did not immediately respond to requests for comment from Business Insider. "In the past I voted Democrat, because they were (mostly) the kindness party," Musk wrote in a tweet in May 2022.

Persons: —, Elon, Joe Biden, Puck, David Sacks, Sacks, Peter Thiel, Travis Kalanick, Steven Mnuchin, Donald Trump, Biden, Musk, Michael Milken, Milken's, Milken, Trump, OpenSecrets, Don Lemon, Lemon Organizations: Service, Hollywood, Business, Democratic, Biden, Houston Chronicle, SpaceX hasn't, Trump, National Republican Congressional Committee, Democratic Party, Republican, The New York Times, CNN Locations: Palm Beach , Florida

☆ Who could buy TikTok?
▼ + stars: | 2024-04-25 | by ( Brian Fung | ) edition.cnn.com time to read: +6 min

Still, the company is under such close scrutiny that it would be a poor candidate to buy TikTok, experts say. If you were to tell me it’s Verizon, or AT&T, maybe it’s not as big of a problem.”Jasmine Enberg, principal analyst at Emarketer, highlighted a paradox: Only the largest, most dominant tech giants may have the resources to buy TikTok. Microsoft had been one of the handful of contenders to buy TikTok in 2020 when President Donald Trump first pushed for a sale. A former Trump Cabinet official enters the frayIn a move that caught many by surprise, former Trump Treasury Secretary Steven Mnuchin announced last month that he is putting together a team of investors to buy TikTok. As with Mnuchin, O’Leary has said a potential acquisition of TikTok may have to exclude TikTok’s algorithm.

Persons: Joe Biden, There’s, ”, Gene Kimmelman, Jasmine Enberg, ” Enberg, TikTok’s, Donald Trump, TikTok, Steven Mnuchin, Mnuchin, ” Oregon Democratic Sen, Ron Wyden, Trump, who’ve, Kevin O’Leary, O’Leary Organizations: CNN, Facebook, Google, Meta, Federal Trade Commission, FTC, Department, YouTube, Microsoft, Intel, Cisco, Verizon, Emarketer, Activision Blizzard, Walmart, Oracle, Project Texas, Texas, Trump Cabinet, Trump Treasury, Trump, ” Oregon Democratic, Washington Post, O’Leary Ventures Locations: United States, TikTok, ” Oregon

☆ Is the US really close to banning TikTok? Yes? And, also: No.
▼ + stars: | 2024-04-22 | by ( Peter Kafka | ) www.businessinsider.com time to read: +4 min

A bill aimed at banning TikTok in the US could be signed into law as early as this week. AdvertisementThe US House of Representatives passed a so-called TikTok ban bill on Saturday. Combining all three things means the TikTok bill will likely be approved as part of the package deal. AdvertisementSo you're saying ByteDance really has a year to sell TikTok to a different owner? For reference: In May 2023, Montana lawmakers passed their own TikTok ban bill; in November of that year, a federal judge blocked the measure.

Persons: —, Will TikTok, Joe Biden, TikTok, Biden, there's, ByteDance, Steve Mnuchin, Trump, Mnuchin, doesn't Organizations: Service, US, Google, Apple Locations: TikTok's China, TikTok, Ukraine, Israel, Montana, China

☆ A TikTok ban would be a win for Mark Zuckerberg
▼ + stars: | 2024-04-22 | by ( Katie Notopoulos | ) www.businessinsider.com time to read: +3 min

Meta CEO Mark Zuckerberg will very likely end up the ultimate winner in the most recent push to force a sale or ban of Chinese-owned TikTok. The House passed a TikTok "ban" or forced sale as part of a bill on military aid for Ukraine and Israel. A year ago, BI's Grace Kay wrote that TikTok legislation would be like "an early Christmas present" for Zuckerberg. Instagram had more growth and downloads last year than TikTok, and after Instagram faced an existential crisis, it's having a surprising comeback.) If ByteDance ends up selling TikTok to a US company, it's hard to imagine it will be a smooth transition.

Persons: —, Zuck —, Mark Zuckerberg, Joe Biden, it'll, Zuckerberg's Meta, BI's Grace Kay, Zuckerberg, Instagram, Adam Mosseri, TikTok, there's, ByteDance, Steven Mnuchin Organizations: Service, Business, Zuckerberg's, Meta, YouTube, Big Tech Locations: Ukraine, Israel

☆ New York Community Bank’s online arm is paying the nation’s highest interest rate
▼ + stars: | 2024-04-10 | by ( Hugh Son | ) www.cnbc.com time to read: +1 min

A New York Community Bank stands in Brooklyn on February 08, 2024 in New York City. New York Community Bank , the regional lender that needed a $1 billion-plus lifeline last month, is offering the country's highest interest rate for a savings account. The standout rate could be a sign that NYCB is facing funding pressure, Tumin said. "It looks like they're trying really hard to attract deposits," Tumin said. The bank announced a capital injection from investors led by former Treasury Secretary Steven Mnuchin's Liberty Strategic Capital on March 6.

Persons: NYCB, Ken Tumin, Tumin, Steven Mnuchin's Organizations: York Community Bank, New York City . New York Community Bank, Banking, Strategic Capital Locations: Brooklyn, New York City .

☆ Steven Mnuchin wants to buy TikTok without the one thing that makes it so valuable: the algorithm
▼ + stars: | 2024-03-31 | by ( Lloyd Lee | ) www.businessinsider.com time to read: +1 min

Former Treasury Secretary Steven Mnuchin said he wanted to buy TikTok. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementEarlier in March, during an interview on CNBC's "Squawk Box,'" Steven Mnuchin, the former US Treasury Secretary, said he was building a team of investors that could buy TikTok within six months. That timeline is due to a bipartisan House bill, passed on March 13, that would ban TikTok unless the app is sold to a US buyer within 180 days. This story is available exclusively to Business Insider subscribers.

Persons: Steven Mnuchin, — Organizations: Service, US, Business

☆ Consumers frustrated by the economy might never get the relief they're ultimately hoping for
▼ + stars: | 2024-03-20 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +6 min

In today's big story, we're looking at why the economy has most consumers feeling like they are stuck in place . A "trapped in place" economy is in full swing. Bad buying conditions coupled with everyday high prices means consumers can't make any major life changes , writes Business Insider's Emily Stewart. But it's not the only area of the economy that's stuck, Emily writes. So, while consumers lament being stuck in place, they should also avoid getting stuck looking to the past.

Persons: —, Rebecca Zisser, Emily Stewart, it's, Emily, gunning, It's, Jerome Powell's, Tyler Le, Steve Mnuchin, Brian Moynihan, Instagram, Jensen Huang, Chelsea Jia Feng, Dan DeFrancesco, Hallam Bullock, Jordan Parker Erb, George Glover Organizations: Service, Business, Tech, Federal, Wall Street, Investors, Blackstone, JPMorgan, MLB, Bank of America, mojo, Nvidia, Astera Labs, NASDAQ Locations: It's, Chelsea, New York, London

☆ How real estate's pain could be Wall Street's gain as Blackstone, Goldman, and others dive back in.
▼ + stars: | 2024-03-19 | by ( Alex Nicoll | ) www.businessinsider.com time to read: +12 min

That's not to say predictions of a commercial real estate rebound are a sure bet. Here are four signs that support Gray's prediction that the commercial real estate market may be bottoming. (New York Community Bank had previously purchased $2.7 billion in Signature's loans and deposits, but not the real estate loans.) According to David Seifert, partner at private equity real estate firm Velocis, there are some sweet deals to be had in secondary sales of private-equity funds tied to real estate. The road aheadWhere Gray sees signs of bottoming, others think commercial real estate has much further to fall.

Persons: Warren Buffett, Buffett, Paul Getty, Getty, Steve Mnuchin —, Blackstone, Mnuchin, Donald Trump's, George Soros, John Paulson, It's, Jonathan Gray, Jim Garman, That's, Barry Sternlicht, Gray, Tracy Chen, Chen, BGO, secondaries There's, Ares, Brian King, King, David Seifert, Seifert, Velocis, Goldman Sachs, Dan McNamara, McNamara, Scott Rechler, wallop, Janet Yellen, Rechler, there's Organizations: Business, Goldman, Reuters, Starwood, Brandywine Global, Federal Reserve, . Bank, New York Community Bank, FDIC, Signature Bank, Community Bank, Fund Management, Community Preservation, New, Commercial Observer, Blackstone, Homes, Digital Realty, Polpo, RXR Locations: Blackstone, , New York, New York, BREIT, Real, Velocis

☆ Banks are in limbo without a crucial lifeline. Here's where cracks may appear next
▼ + stars: | 2024-03-19 | by ( Hugh Son | ) www.cnbc.com time to read: +8 min

Most of the banks deemed to be potentially challenged are community lenders with less than $10 billion in assets. These banks need to either raise capital, likely from private equity sources as NYCB did, or merge with stronger banks, Graham said. There are other signs of mounting stress among smaller banks. They ranged in size from $90 billion in assets to under $1 billion, according to Fitch. He predicts a surge in merger activity from lenders between $3 billion and $20 billion in assets as smaller firms look to scale up.

Persons: Klaros, Steven Mnuchin, Brian Graham, Graham, you've, PacWest, Banks, Jerome Powell, Powell, Fitch, Brendan Mcdermid, I've, Chris Caulfield, West, Spencer Stuart, You've, Frank Sorrentino, Stephens, It's, that's, Sorrentino Organizations: Silicon Valley Bank, Federal Reserve, Klaros Group, York Community Bank, ex, Fitch, Federal Deposit Insurance Corporation, Traders, New York Stock Exchange, Reuters, U.S, First Republic, Mercer Capital, Bank, Dominion Bank, Capital, Regulators Locations: Silicon, California, New York City, U.S, Toronto, West Monroe, FirstSun, Seattle

☆ Things are about to get weird for homebuyers and sellers
▼ + stars: | 2024-03-17 | by ( Matt Turner | Jordan Parker Erb | ) www.businessinsider.com time to read: +5 min

Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. This story is available exclusively to Business Insider subscribers. Ban or no ban, TikTok is under pressure. Now, we're about to enter a new age of experimentation as buyers and sellers start thinking hard about how they'll pay their agents, and how much. More of this week's top readsThe Insider Today team: Matt Turner, deputy editor-in-chief, in New York.

Persons: —, TikTok, Bytedance, Biden, Donald Trump, Steven Mnuchin, Anson Chan, sarayut Thaneerat, Tyler Le, Ken Griffin, Ambition, Theresa Sue Mubenga, who's, Matt Turner, Jordan Parker Erb, Dan DeFrancesco, Lisa Ryan Organizations: Service, Business, Senate, Apple, Medical Properties Trust, Citadel, Miami, Citadel Securities, Wall, Workers, National Association of Realtors, Oxford Locations: China, Chicago, Miami, New York

☆ TikTok debate reveals the risks for investing in China during U.S. election year
▼ + stars: | 2024-03-17 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +4 min

The debate over whether Chinese-owned TikTok can operate in the U.S. is back with fervor, revealing more about the risk for Chinese stocks in a U.S. presidential election year. Such considerations motivated Goldman Sachs analysts to update their model for measuring the level of risk from U.S.-China tensions in Chinese stocks. Their barometer, created in 2020, "has correlated well with the U.S.-China events timeline, and China equity performance," the analysts said. Goldman's revised U.S.-China tensions barometer stands at a modest 53 out of 100, indicating a "somewhat benign" outlook for the bilateral relationship. But as the TikTok bill now makes its way to the Senate, many analysts expect its momentum to slow.

Persons: Goldman Sachs, Goldman's, It's, Raymond James, That's, Steven Mnuchin, CNBC's, Mnuchin, Donald Trump, Joe Biden, Trump, Biden, Goldman, — CNBC's Michael Bloom Organizations: U.S ., Goldman, U.S, Chinese Communist Party, IMEIK Technology, Postal Savings Bank Locations: U.S, China, Beijing

From 1985 to 2002, he worked at Goldman Sachs, one of the most storied — and criticized — investment banks on Wall Street. He famously swooped in to turn around the struggling IndyMac bank after its failure in the financial crisis of 2008. Earlier this month, Mnuchin jumped back into the headlines when his PE firm led a roughly $1 billion investment in embattled New York Community Bancorp. In 2009, OneWest Bank Group, where Mnuchin was chairman and CEO, bought the troubled IndyMac after federal regulators took over the bank. Mnuchin was Treasury secretary in 2020, when the Trump administration brokered a deal where Oracle and Walmart would take a large stake in TikTok.

Persons: Steven Mnuchin, Donald Trump’s, Goldman Sachs, Mnuchin, Max, Mnuchin's dealmaking, Robert Weissman, ” Weissman, Robert Rubin, Clinton, Weissman, couldn’t, NYCB, George Soros, John Paulson, OneWest, Kevin Kaiser, “, ” Kaiser, Maxine Waters, ”, Trump, doesn't, Chris Caulfield, ” Caulfield, ” ___ Rugaber Organizations: Trump, Public Citizen, Treasury, Treasury Department, Liberty Strategic Capital, Citizens, New York Community Bancorp, OneWest Bank Group, Federal, of Insurance Corp, FDIC, Wharton School, Oracle, Walmart, CNBC Locations: Wall, TikTok, Saudi Arabia, East, Washington, Congress, U.S, China, West Monroe, “

☆ Steve Mnuchin breaks out the checkbook
▼ + stars: | 2024-03-15 | by ( Elisabeth Buchwald | ) edition.cnn.com time to read: +7 min

Mnuchin rebornNine months after President Joe Biden was inaugurated and Mnuchin left the Treasury Building, Mnuchin formed a new private equity group, Liberty Strategic Capital. Steven Mnuchin's private equity firm made a $450 million investment in New York Community Bank last week. When Mnuchin left CIT less than two years later, he received a $10.9 million severance package. “It’s a great business and I’m going to put together a group to buy TikTok,” Mnuchin told visibly stunned anchors on CNBC Thursday morning. Mnuchin may be the founder and managing partner of Liberty Strategic Capital, but Saudi Arabia is reportedly covering a big chunk of his firm’s tab.

Persons: Donald Trump’s, Steven Mnuchin, Mnuchin, Joe Biden, Jackie ”, Trump, Goldman Sachs, ”, Liberty, Steven Mnuchin's, Spencer Platt, “ It’s, ” Mnuchin, “ You’re, ” Andrew Ross Sorkin, ” interjected, TikTok, “, he’s, Will Lanzoni, Crown Prince Mohammed bin Salman Organizations: New, New York CNN, Treasury, Liberty Strategic Capital, Lionsgate, New York Community Bank, Getty, Federal Deposit Insurance Corporation, CIT Group, CIT, CNBC, CNN, Senate, Liberty Strategic, Crown, New York Times, Saudi Public Investment Fund, Meta, ByteDance . Liberty Strategic Locations: New York, cybersecurity, New, California, China, Montana, Saudi Arabia, Saudi, ByteDance

☆ CNBC Daily Open: Another hot inflation gauge fuels worry
▼ + stars: | 2024-03-15 | by ( Sumathi Bala | ) www.cnbc.com time to read: +2 min

This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Why Japan's wage talks matterJapan's "shunto" wage negotiations hit fever pitch this week as several corporate giants revealed salary increases. "I think the legislation should pass and I think it should be sold," Mnuchin told CNBC. [PRO] Look beyond NvidiaInvestment firm Fidelity International said investors should look beyond highfliers like Nvidia to ride the AI wave.

Persons: Dow, Steven Mnuchin, Mnuchin Organizations: CNBC, Nasdaq, Bank of, U.S, HSBC bullish, Nvidia Investment, Fidelity International, Nvidia Locations: U.S, China

What’s next for ByteDance’s U.S. investors? DealBook has spoken with people in the know about what these investors, including financial giants like the Susquehanna International Group, can do, with billions of dollars on the line. Mnuchin, a former Treasury secretary, told Andrew on CNBC on Thursday that he was in talks with a “combination of U.S. investors” about a TikTok deal. He added that he had spoken with some of the investors in ByteDance, TikTok’s Chinese parent, about possibly rolling over their stake. of the video game giant Activision Blizzard, also reportedly has been looking for potential partners for a bid.

Persons: What’s, ”, DealBook, Steven Mnuchin, Andrew, Bill Ford, Bobby Kotick Organizations: ByteDance’s U.S, U.S, Susquehanna International Group, CNBC, Activision Locations: Beijing, China, ByteDance

☆ What a Trump 2.0 Economy Would Look Like
▼ + stars: | 2024-03-15 | by ( Tim Smart | ) www.usnews.com time to read: +10 min

Overall, the Biden economic plan draws less than favorable reviews from voters. So, too, are promises of more tax cuts and a sharp curtailment of immigration. Trump was upset in 2019 that Powell was not doing enough to lower interest rates and stimulate the economy. The Trump tax cuts are set to expire in 2025, giving a second Trump administration the opportunity to fight that battle again. “A Trump 2.0 presidency would inherit very large fiscal deficits from the Biden Administration, rising interest expenses and an economy probably more prone to bouts of inflation,” the report said.

Persons: Muhammad Ali, Joe Frazier, Joe Biden, Donald Trump, Biden, Trump, There’s, ” Trump, it’s, ”, Patrick Horan, “, Tony Soprano, Patrick Kilbane, ” Kilbane, “ Trump, ” George Calhoun, Calhoun, ” Matt Gertken, Alex Nowrasteh, ” Michael Clemens, Clemens, Jerome Powell, Powell, Xi Jinping, Maria Bartiromo, reappoint Powell, Steve Mnuchin, ” Maxime Darmet, Darmet, Kevin McCarthy Organizations: Manila ”, Trump, CNBC, Monday, White, George Mason University, Ullmann Wealth Partners, Republican Party, Senate, Affordable, Quantitative, Stevens Institute of Technology, TikTok, Democratic, BCA Research, Labor, CATO Institute, Peterson Institute for International, University of Colorado, Federal Reserve, Federal, Biden, Fox Business, Trump Cabinet, House, Allianz Research, Biden Administration, U.S, Allianz Trade, Congress, GOP Locations: Manila, COVID, China, U.S, America, France

☆ Citadel's relocation to Miami was a success. But can Ken Griffin get the rest of Wall Street to do it?
▼ + stars: | 2024-03-15 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +7 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. In today's big story, we're looking at how two of the most powerful Wall Street firms are doing two years after relocating to Miami . Nearly two years ago the billionaire uprooted his hedge fund, Citadel, and market maker, Citadel Securities, from their Chicago headquarters to Miami. Employees at Citadel and Citadel Securities spoke to Business Insider's Emmalyse Brownstein about life in the new HQ . Shares tumbled 55% after The Wall Street Journal reported that Fisker had hired restructuring advisors to assist with a possible bankruptcy filing.

Persons: —, we're, sarayut Thaneerat, Tyler Le, Ken Griffin, Samantha Lee, San Francisco, Griffin, Anita Kot, Dogecoin, Elon Musk, Ned Davis, Fisker, Patrick Pleul, Andrew Cabellero Reynolds, Jenny Chang, Rodriguez, Sam Altman, Muhammad Ali, Steven Mnuchin, BI's Peter Kafka, Ezra Bailey, Dan DeFrancesco, Hallam Bullock, Jordan Parker Erb, George Glover Organizations: Service, Business, Wall, Citadel, Citadel Securities, Sunshine State, Miami, New York, Ned Davis Research, Street Journal, Elon, OpenAI, Google, KKR, Benz Locations: Miami, Florida, Chicago, New York, London, York, Plenty, San, Austin, He's, Blackstone

☆ Big Appeal, and Big Question Marks, in Possible TikTok Sale
▼ + stars: | 2024-03-14 | by ( Lauren Hirsch | David Mccabe | ) www.nytimes.com time to read: +1 min

TikTok is one of the most popular and largest social media apps around the globe — with great brand recognition and loyal users. That’s the conundrum facing TikTok as Washington lawmakers push a bill that would force the app’s Chinese parent company, ByteDance, to sell it or face having it banned in the United States. The bill passed the House on Wednesday but could face an uphill climb in the Senate. Rumors are already swirling on Wall Street about who could be interested in buying TikTok. The U.S. president, according to the bill passed by the House, would have to affirm that a deal cut the app off from ByteDance.

Persons: Steven Mnuchin, Mr, Mnuchin Organizations: CNBC, U.S Locations: Washington, United States, U.S, ByteDance

☆ Come on, everyone, let's buy TikTok!
▼ + stars: | 2024-03-14 | by ( Henry Blodget | ) www.businessinsider.com time to read: +5 min

So, in the wake of the (notably bi-partisan) House bill, some Americans are already volunteering to buy TikTok — such as former Treasury Secretary Steven Mnuchin. These investors would include private equity funds, hedge funds, pension funds, sovereign wealth funds, mutual funds, and, of course, banks. That's what Steven Mnuchin and everyone else who wants to buy TikTok are planning to do. That's why Mnuchin made his announcement on CNBC this morning — to let every investor on the planet who might give him money to buy TikTok know that he's raising money to buy TikTok. ("Wait — he's putting together a group to buy TikTok and he hasn't called us yet?

Persons: —, Let's, Steven Mnuchin, Mnuchin, Goldman Sachs, there's, Elon Musk, ByteDance, Steven Mnuchin's, hasn't Organizations: Service, Twitter, CNBC Locations: America, China, American, Banks

☆ Steven Mnuchin says he's putting together a group to try and buy TikTok
▼ + stars: | 2024-03-14 | by ( Brent D. Griffiths | ) www.businessinsider.com time to read: +3 min

Former Treasury Secretary Steven Mnuchin said on Thursday that he's exploring assembling a group of investors to purchase TikTok, an attempt to assuage US national security concerns that the popular social media app should not be under Chinese ownership. It's a great business, and I'm going to put together a great group to buy TikTok," Mnuchin said during an interview on CNBC's "Squawk Box." Mnuchin, breaking with former President Donald Trump, said he supported a House bill that could force a ban on the popular social media app. While the bill explicitly mentions TikTok, the legislation could also apply to future companies. Trump's White House, led in part by Mnuchin, kicked off the US effort to ban the social media app.

Persons: Steven Mnuchin, It's, Mnuchin, Donald Trump, Joe Biden, Trump, Jeff Yass, Kellyanne Conway, let's Organizations: Service, Lawmakers, Politico, Trump White House, Club, Growth Locations: TikTok's Beijing, ByteDance, Yass

☆ Former Treasury Secretary Mnuchin: Government spending is what caused inflation
▼ + stars: | 2024-03-14 | 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 EmailFormer Treasury Secretary Mnuchin: Government spending is what caused inflationFormer U.S. Treasury Secretary and Liberty Strategic Capital founder and managing partner Steven Mnuchin joins 'Squawk Box' to discuss the latest developments around a potential TikTok ban, why he's putting together a group to buy the social media app, whether he believes the app poses a national security risk, his thoughts on entitlements, state of the U.S. economy, and more.

Persons: Steven Mnuchin Organizations: Former, U.S, Treasury, Liberty Strategic Capital Locations: U.S

☆ Elon Musk would be the best owner for TikTok. There's just one problem.
▼ + stars: | 2024-03-14 | by ( Peter Kafka | ) www.businessinsider.com time to read: +6 min

At one point, Elon Musk might have seemed like a great candidate to buy TikTok. Turns out my boss Henry Blodget is suggesting we all band together to rustle up the money to buy TikTok. You might recall Elon Musk from 2022. And that Elon Musk would be a great candidate to buy the US operations of TikTok. The sales pitch would be simple: Elon Musk.

Persons: Elon, —, Steven Mnuchin, doesn't, Bobby Kotick, Sam Altman, Henry Blodget, Henry, didn't, Joe Biden, ByteDance, that's, Steve Mnuchin, — Elon, Elon Musk, Guy Who, Esther Crawford, Musk, he's Organizations: Service, Activision, Street, Yahoo, Twitter, Elon Locations: TikTok, ByteDance

☆ 10 things to watch in the stock market Thursday, including inflation, Nvidia, Broadcom, Microsoft
▼ + stars: | 2024-03-14 | by ( Zev Fima | ) www.cnbc.com time to read: +4 min

Morgan Stanley analysts say, "Within internet coverage group, the survey results were most bullish for OW (overweight) META . Evercore ISI raises its Netflix price target to $640 per share from $600, reiterating its buy-equivalent rating. The analysts say the turnaround at IBM continues, citing "a defensive portfolio, attractive dividend yield, and underappreciated AI capabilities." Goldman Sachs research analysts upgrade shares of Citigroup to buy from neutral with a $68-per-share price target. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

Persons: Steven Mnuchin, ByteDance, Mnuchin, Morgan Stanley, Bernstein, Mizuho, Arvind Krishna, Goldman Sachs, Wells, Dick's, Jim Cramer's, Jim Cramer, Jim Organizations: PPI, CPI, CNBC, U.S, Community Bancorp, Facebook, Nvidia, Broadcom, Citi, Micron, Microsoft, Security, Disney, Amazon, Bank of America, IBM, Citigroup, Dick's, Goods, Jim Cramer's Charitable Locations: New, Japan

☆ Watch CNBC's full interview with former Treasury Secretary Steven Mnuchin
▼ + stars: | 2024-03-14 | 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 EmailWatch CNBC's full interview with former Treasury Secretary Steven MnuchinFormer U.S. Treasury Secretary and Liberty Strategic Capital founder and managing partner Steven Mnuchin joins 'Squawk Box' to discuss the latest developments around a potential TikTok ban, why he's putting together a group to buy the social media app, whether he believes the app poses a national security risk, his thoughts on entitlements, state of the U.S. economy, and more.

Persons: Steven Mnuchin Organizations: Steven Mnuchin Former U.S, Treasury, Liberty Strategic Capital Locations: Steven Mnuchin Former, U.S

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