DIRS.INFO The most relevant business & tech news

☆ Meta tumbles 12% on weak revenue forecast and Zuckerberg's comments on spending
▼ + stars: | 2024-04-25 | by ( Alex Koller | ) www.cnbc.com time to read: +2 min

Meta shares tumbled 12% Thursday morning after the company issued weak revenue guidance that overshadowed its first-quarter earnings beat. ET, wiping out roughly $161 billion in market cap from its $493.5 closing price before earnings on Wednesday. Meta expects second-quarter revenue of $36.5 billion to $39 billion. Barclays analysts maintained an overweight rating of Meta stock and lowered their price target to $520 from $550 in an investor note Wednesday. "If there is anything META has proven over the years, it's extremely good at executing during big platform shifts in tech, arguably the best," the Barclays analysts wrote.

Persons: Mark Zuckerberg, Bernstein, Zuckerberg, Michael Bloom Organizations: U.S . Capitol, Meta, JPMorgan, Barclays Locations: Washington , U.S

☆ Barclays swings back to profit in first quarter amid strategic overhaul
▼ + stars: | 2024-04-25 | by ( Karen Gilchrist | ) www.cnbc.com time to read: +2 min

LONDON — Barclays on Thursday reported first-quarter net income attributable to shareholders of £1.55 billion ($1.93 billion), beating expectations and returning the British lender to profit amid a major strategic overhaul. Analysts polled by Reuters had expected net profit attributable to shareholders of £1.29 billion for the quarter, according to LSEG data. Barclays reported a net loss of £111 million in the fourth quarter of 2023 due to an operational shake-up designed to reduce costs and improve efficiencies. The overhaul saw the reorganization of the business into five operating divisions, separating the corporate and investment bank to form: Barclays U.K., Barclays U.K. Corporate Bank, Barclays Private Bank and Wealth Management, Barclays Investment Bank and Barclays U.S. Consumer Bank. The bank also pledged to return £10 billion to shareholders between 2024 and 2026 through dividends and share buybacks.

Persons: C.S, Venkatakrishnan, — CNBC's Elliot Smith Organizations: LONDON, Barclays, Reuters, Tesco Bank, Corporate Bank, Barclays Private Bank, Wealth Management, Barclays Investment Bank, Barclays U.S . Consumer Bank

☆ By passing Ukraine aid, the accidental speaker became an unlikely Churchill
▼ + stars: | 2024-04-20 | by ( Stephen Collinson | ) edition.cnn.com time to read: +12 min

CNN —Republican Speaker Mike Johnson showed political courage that is rare in Washington and notable legislative skill for an inexperienced leader in forcing a long-delayed $60 billion aid bill for Ukraine through the House of Representatives on Saturday. And 112 Republicans — a majority of the conference — voted against the Ukraine bill. And any Republican speaker propped up by Democrats might hemorrhage support among GOP lawmakers and be forced to resign. “As we deliberate on this vote, you have to ask yourself this question: Am I Chamberlain or Churchill?” he said. The accidental speaker makes an unlikely Churchill, but on Saturday he proved to be a far more daring and substantial figure than many of his Republican and Democratic critics previously believed.

Persons: Mike Johnson, Johnson, Vladimir Putin, Ronald Reagan, Joe Biden’s, “, Donald Trump, Volodymyr Zelensky, ”, ” CNN’s Frederik Pleitgen, Putin, —, Biden, Marjorie Taylor Greene, Greene, Johnson —, Kevin McCarthy’s, Marc Molinaro, CNN’s Manu Raju, Trump, Zelensky, Trump’s, Hakeem Jeffries, Mike Quigley, It’s, ” Quigley, Chuck Schumer, Jeffries, Mike McCaul, ‘, it’s, McCaul, Chamberlain, Churchill Organizations: CNN, West, GOP, America, MAGA, United States House, Representatives, Ukraine, Republican Party, Trump, Republicans, Georgia, Mar, Democratic, Congressional Ukraine Caucus, Illinois Democrat, Foreign, Texas Republican, Republican Locations: Washington, Ukraine, Russian, Louisiana, United States, Russia, Europe, Iran, China, Israel, Taiwan, Mexico, Georgia, New York, Kyiv, Texas, Nazi Germany

☆ Opinion | Trump Is the Embodiment of the Politics of Intimidation
▼ + stars: | 2024-04-10 | by ( Thomas B. Edsall | ) www.nytimes.com time to read: +2 min

Donald Trump has added something new to the practice of extracting money from major donors: fear. Trump has also talked of prosecuting officials at the F.B.I. In public, Trump has vowed to appoint a special prosecutor to “go after” President Biden and his family. Trump has claimed without evidence that the criminal charges he is facing — a total of 88 across four state and federal indictments — were made up to damage him politically. Trump has made “retribution” a central theme of his campaign, seeking to intertwine his own legal defense with a call for payback against perceived slights and offenses to “forgotten” Americans.

Persons: Donald Trump, Trump’s, Trump, John F, Kelly, William P, Barr, Ty Cobb, Mark, “, ” President Biden, ” Organizations: House, The Washington Post, Justice Department, Joint Chiefs, ”

☆ Boebert continues stoking controversy amid intense battle to keep her job
▼ + stars: | 2024-04-05 | by ( Melanie Zanona | ) edition.cnn.com time to read: +10 min

“It hasn’t encumbered her job performance,” GOP Rep. Byron Donalds of Florida told CNN. I’m not afraid of a challenge though,” Boebert told CNN before the House left for a two-week break. And unfortunately, I’ve had a front row seat,” Boebert told CNN. “I did it because we don’t have to have two separate elections and cost the taxpayers two separate elections,” he told CNN. And she’s probably made more jokes about her own stupidity in that movie theater than I’ve heard elsewhere,” one GOP lawmaker told CNN.

Persons: Lauren Boebert, Donald Trump, Boebert, Trump, MAGA, carpetbagging –, Byron Donalds, we’re, I’m, ” Boebert, ”, Ken Buck, –, Buck, Greg Lopez, “ Greg, they’re, “ You’ve, Buck Still, Mike Johnson, Boebert’s, There’s, I’ve, “, ” Buck, Marjorie Taylor Greene –, She’s, Lauren Organizations: CNN, Colorado Republican, New York Young Republican, Trump, GOP, Pueblo Jobs, Democrat, Republican, Colorado Republicans, Boebert, Democratic, “, Caucus, Freedom Caucus Locations: Denver, Manhattan, Colorado, Florida, Colorado’s, Boebert

☆ Shopify has poached at least two dozen employees from Salesforce as it pushes into enterprise e-commerce
▼ + stars: | 2024-04-04 | by ( Madeline Stone | ) www.businessinsider.com time to read: +9 min

Holly Dresden joined Shopify as head of enterprise merchant success in December after six years with Salesforce Commerce Cloud. Evan AgostiniAs it moves further into enterprise, Shopify hasn't always been subtle about zeroing in on Salesforce as a competitor. It recently launched a webpage comparing its platform with Salesforce Commerce Cloud, encouraging merchants to "join the mass migration" of brands moving from Salesforce to Shopify. But winning over enterprise retailers requires a different approach, and it's one where Salesforce has more years of experience than Shopify. Talking the enterprise talkPoaching employees from Salesforce isn't the only way Shopify has made an effort to win over enterprise customers.

Persons: —, Shopify, Kal Stephen, Holly Dresden, Everlane, Marc Benioff, Evan Agostini, hasn't, Michael Affronti, we've, Affronti, Shopify's, Salesforce, We've, It's, Rick Watson, Watson, Demandware, Oppenheimer, Ken Wong, Wong, Harley Finkelstein Organizations: Service, Salesforce Commerce, Business, Salesforce, Adobe, SAP, Mattel, Commerce, RMW Commerce Consulting, Accenture, IDC, Manhattan Associates Locations: Salesforce, Demandware

☆ Russian rebels aim to embarrass Putin with cross-border attacks during presidential election
▼ + stars: | 2024-03-16 | by ( Alia Shoaib | ) www.businessinsider.com time to read: +6 min

The fighters say they intend to disrupt Russia's election and demonstrate opposition to Putin. Putin said there would be payback for the attacks in a speech to Security Council of Russia on Friday. Aleksey Baranovsky, who is part of the Freedom for Russia Legion, said the group's goal was to disrupt the election and show opposition to Putin. A view of the site after Ukrainian shelling that damaged buildings and vehicles in Belgorod, Russia on March 14, 2024. Emil Leegunov/Anadolu via Getty ImagesIt is unlikely that these attacks will have a major impact on the election or the war in Ukraine, but they could serve to embarrass Putin.

Persons: Putin, —, reelect Vladimir Putin, Aleksey Baranovsky, Alexey, Jade McGlynn, Alexey Navalny, STRINGER, McGlynn, Emil Leegunov, " McGlynn Organizations: Security, Russia, Service, Russia Legion, Siberian Battalion, Russian Volunteer Corps, for Russia Legion, War Studies Department, King's College London, Getty, CNN, Freedom for Russia Legion, Russian National Guard, Legion, Navalny Locations: Russia, Ukrainian, Russian, Russia's Kursk, Belgorod, —, Ukraine, Kursk, Tyotkino, Russia's, Kyiv, Anadolu

The largest global industrial wood pellet supplier filed for Chapter 11 bankruptcy protection on Wednesday, announcing its intention to cut about $1 billion of debt by restructuring agreements with creditors, including those who have invested heavily in new facilities. The announcement came two months after Fitch Ratings downgraded Enviva’s default rating following a missed interest payment of $24.4 million. Construction will continue at its location in Epes, Alabama, Enviva said in a March 12 statement. The Dogwood Alliance urged the Biden Administration this fall to prevent wood pellet producers from accessing a tax credit that received additional funding under the Inflation Reduction Act, which marked the most substantial federal investment to date in the fight against climate change. Report for America is a nonprofit national service program that places journalists in local newsrooms to report on undercovered issues.

Persons: Enviva, ”, ” Glenn Nunziata, Danna Smith, Smith, ” Smith, ” ___ Pollard Organizations: Fitch, Dogwood Alliance, Biden, Associated Press, America Statehouse News Initiative, America Locations: Maryland, Delaware, Mississippi, Alabama, U.S, Epes , Alabama, Bond

☆ Nvidia's terrible Friday gives traders a preview of what a momentum unwind would look like
▼ + stars: | 2024-03-09 | by ( Michael Santoli | ) www.cnbc.com time to read: +8 min

The S & P 500 Volatility Index finished the week near 15 and is in a clear three- month uptrend from its mid-December low near 12, even as the S & P 500 has gained 10% since then. In fact, Friday the market minimized the headline damage to a mere two-thirds-percent dip in the S & P 500 through its signature rotational impulse. Some indicators — such as speculators remaining net short S & P 500 futures and brokerage strategists' muted index targets — imply the helpful wall of worry is not quite fully scaled. Since then, the S & P has delivered a 16.7% annualized total return, even after two bear markets and two other severe/prolonged corrections. And the S & P is only up 7% from its high 26 months ago, hardly in thin air.

Persons: what's, Eli Lilly, Martin Marietta, Nick Colas, Scott Chronert Organizations: Federal, Nvidia, Costco, pharma, Martin Marietta Materials, Vulcan, 3Fourteen Research, NYSE, Nasdaq, DataTrek, Citi

☆ What to watch for on Super Tuesday
▼ + stars: | 2024-03-05 | by ( Gregory Krieg | Eric Bradner | ) edition.cnn.com time to read: +15 min

Here are 9 things to watch for:The night the lights go out on HaleyBarring a stunning upset – actually, multiple stunning upsets across the country – Super Tuesday is looking like the end of the road for Haley. While Haley has said she would stay in the race through at least Super Tuesday, she has not hinted at an exit. A North Carolina governor’s race with implications up and down the ballotOn a Super Tuesday with an unusual lack of spice, the North Carolina gubernatorial primary is a rare exception. Mark Robinson and Democratic state Attorney General Josh Stein are expected to coast to their parties’ respective nominations. Down-ballot in Texas, there’s more to watch, starting with the payback campaign of Attorney General Ken Paxton.

Persons: Joe Biden, Donald Trump, Biden, Trump, Nikki Haley, Trump’s, Dianne Feinstein, Haley, –, Liz Cheney, she’s, “, specter, MAGA, Barack Obama, Mark Robinson, Josh Stein, Robinson, Stein, Roy Cooper, Beto O’Rourke’s, Republican Sen, Ted Cruz, Colin Allred, Cruz, Sen, Roland Gutierrez —, Allred, ’, outraising Cruz, Ken Paxton, Paxton, Dade Phelan, He’s, Dianne Feinstein —, Laphonza Butler, Steve Garvey, Adam Schiff, Schiff, Katie Porter, Barbara Lee, Garvey hasn’t, Garvey, Jerry Carl, Barry Moore, Moore, Marjorie Taylor Greene, Carl, Steve Scalise, It’s, Terri Sewell, David Valadao, Michelle Steel, Young Kim, Ken Calvert’s, Katie Porter’s, Scott Baugh, Josh Harder’s, Mike Levin’s, London Breed, George Gascon, CNN’s Simone Pathe, Fredreka Schouten Organizations: CNN, South Carolina Gov, Trump, California Senate, Democrats, Haley, Trump Republicans, Wyoming, GOP, Democratic, MAGA Republicans, Virginia, North, North Carolina Republicans, Carolina governor’s, North Carolina, Republican, Gov, Texas Democrats, Cruz, NFL, Affordable, Texas Legislature, Senate, Democrat, Alabama, showdowns, 2nd, Caucus, Georgia, Louisiana Rep, Chamber of Commerce, California House, Rep, London, Supervisors, District Locations: Alaska, California, Colorado , Minnesota, North Carolina, Alabama, Gaza, Minnesota, South Carolina, Virginia, Carolina, Texas, San Antonio, Uvalde, Tuesday’s, Florida, Montana , Ohio, West Virginia, Arizona, Michigan, Nevada , Pennsylvania, Wisconsin, Orange County, Francisco, Los Angeles

☆ House Speaker Mike Johnson faces a defining dilemma on Ukraine
▼ + stars: | 2024-02-27 | by ( Stephen Collinson | ) edition.cnn.com time to read: +11 min

CNN —House Speaker Mike Johnson has the fate of a democracy and a people in his hands. It’s not the United States, which will survive – even if the coming general election results in another existential test for the constitutional system. Johnson, a backbencher who was the last-ditch choice to lead the mutinous House GOP majority last year, could relieve Ukraine’s agony and help ensure its survival as an independent nation in the coming days. Nothing can be guaranteed in a fractious Congress, with a House GOP majority that has rendered the United States close to ungovernable and is threatening America’s global leadership role. And history is watching whether Speaker Johnson will put that bill on the floor.

Persons: Mike Johnson, It’s, Johnson, Vladimir Putin, –, Donald Trump, speakership, Joe Biden, Kevin McCarthy, Volodymyr Zelensky, CNN’s Kaitlan Collins, McCarthy, Hakeem Jeffries, Mitch McConnell, Chuck Schumer —, ”, Jake Sullivan, ” Sullivan, Putin, ” Trump, Trump, Biden, ” Rep, Byron Donalds of, ” Zelensky, “, ” Johnson, David Cameron, Marjorie Taylor Greene, Radoslaw Sikorski, ” Sikorski, CNN’s “ Fareed Zakaria, Seth Moulton of, Xi, ” Moulton, Frederick Kagan Organizations: CNN —, GOP, Pentagon, Democratic Senate, White, Trump, Republican, Democratic, Ukraine, ” Biden, Biden, Washington, Democrats, House Republicans, ”, CNN, British, ” Democratic, Seth Moulton of Massachusetts, CNN News Central, NATO, American Enterprise Institute Locations: United States, Ukraine, Russia, Kyiv, Louisiana, Western, Moscow, ungovernable, “ State, America, America’s, Byron Donalds of Florida, Zelensky, Marjorie Taylor Greene of Georgia, British, Asia, Taiwan, Japan, China, Ukrainian

☆ Ignoring Warnings, G.O.P. Trumpeted Now-Discredited Allegation Against Biden
▼ + stars: | 2024-02-23 | by ( Luke Broadwater | Glenn Thrush | ) www.nytimes.com time to read: +1 min

In May 2023, Senator Charles E. Grassley, a chief antagonist of President Biden, strode to the Senate floor with some shocking news: He had learned, he said, of a document in the F.B.I.’s possession that could reveal “a criminal scheme involving then-Vice President Biden.”Mr. Grassley, an Iowa Republican, suggested to any Americans listening that there was a single document that could confirm the most sensational corruption allegations against Mr. Biden — and that the Federal Bureau of Investigation was engaging in a coverup. “Did they sweep it under the rug to protect the candidate Biden?” he asked conspiratorially. Over the next few months, Mr. Grassley’s quest to make public the allegation — laid out in an obscure document known as an F.B.I. Form 1023 — became a fixation, and a foundation of the growing Republican push to impeach Mr. Biden as payback for Democrats’ treatment of former President Donald J. Trump. At the center of it all was the unsubstantiated accusation that Mr. Biden had taken a $5 million bribe from the executive of a Ukrainian energy company, Burisma.

Persons: Charles E, Grassley, Biden, strode, ’, ” Mr, Mr, Biden —, ”, conspiratorially, —, Donald J Organizations: Iowa Republican, Federal Bureau of Investigation, Trump Locations: Iowa, “, Ukrainian

☆ Barclays jumps 8.6% after announcing major strategic overhaul
▼ + stars: | 2024-02-20 | by ( Elliot Smith | ) www.cnbc.com time to read: +4 min

LONDON — Barclays on Tuesday reported a fourth-quarter net loss of £111 million ($139.8 million) as the British lender announced an extensive strategic overhaul, boosting its shares more than 8.6% through the day. For the full year, net attributable profit came to £4.27 billion, down from £5.023 billion in 2022 and below a consensus forecast of £4.59 billion. Credit impairment charges were £552 million, up from £498 million in the fourth quarter of 2022. The business will now be divided into five operating divisions, separating the corporate and investment bank to form: Barclays U.K., Barclays U.K. Corporate Bank, Barclays Private Bank and Wealth Management, Barclays Investment Bank and Barclays U.S. Consumer Bank. Barclays is targeting total gross cost savings of £2 billion and an RoTE of greater than 12% by 2026.

Persons: C.S, Venkatakrishnan, Mariva Rivas, DBRS Morningstar, Rivas Organizations: Citigroup Inc, State Street Corp, Barclays Plc, HSBC Holdings Plc, LONDON, Barclays, Reuters, Momentum, Corporate Bank, Barclays Private Bank, Wealth Management, Barclays Investment Bank, Barclays U.S . Consumer Bank, CNBC, U.S Locations: Wharf

In addition to the $355 million penalty — payback of what the judge deemed “ill-gotten gains” from his spurious financial statements — Trump is required to pay interest on that amount. James’ office calculates that, to date, Trump owes an additional $98.6 million in interest, bringing his total penalty to $453.5 million. Trump used $170 million of the $375 million to pay off a loan on the property. — $60 million, plus interest, from selling the rights to manage a New York City golf course in June 2023. Trump testified that regardless of what his financial statements said, banks did their own due diligence and would’ve qualified him for the loans anyway.

Persons: Donald Trump, “, ”, Arthur Engoron, Letitia James, who’s, Trump, who's, Friday's, what's, Engoron, James ’, Allen Weisselberg, Jeffrey McConney, — Trump, Eric, Donald Trump Jr, Donald Jr, untethered, ” Trump, Christopher Kise, would’ve, James, Engoron’s, Barbara Jones, Michael Cohen, Cohen, —, Forbes, Trump “, ” Engoron, Michael Cohen's Organizations: Republican, Trump, Trump Organization, longtime Trump Organization, TRUMP, New, Deutsche, Trump International Hotel, Waldorf, Bally's Corporation, Trump Organization finance, Division, Democrat Locations: New York, New, Manhattan, Lago, Florida, Miami, Chicago, Washington, New York City, Engoron’s, York, Trump

☆ Trump says US should no longer provide foreign aid unless it’s structured as a loan
▼ + stars: | 2024-02-10 | by ( Kate Sullivan | Shania Shelton | ) edition.cnn.com time to read: +3 min

CNN —The day before the Senate is set to begin voting on a $95.3 billion foreign aid package that would provide for Israel and Ukraine, former President Donald Trump on Saturday said the US should stop providing foreign aid unless it is structured as a loan. Trump’s comments come after he launched a torrent of attacks on a $118 billion bipartisan border deal and foreign aid package that Senate Republicans ended up blocking Wednesday. The former president’s comments Saturday suggest the new foreign aid package, on which the Senate is slated to begin procedural votes Sunday, will end up similarly torpedoed. Trump celebrated the failure of the $118 billion bipartisan border deal and foreign aid package at a rally on Saturday. The $95.3 billion foreign aid package the Senate is currently working to pass was advanced on Thursday on a tally of 67 to 32.

Persons: Donald Trump, “, ” Trump, — James Lankford of, Joe, Republican Sen, Rand Paul, Kentucky —, ” Paul, CNN’s Manu Raju, Mike Johnson Organizations: CNN, UNITED STATES, Republicans, Trump, Israel, West Bank, White House, Republican, Senate, Russia Locations: Israel, Ukraine, — James Lankford of Oklahoma, Conway , South Carolina, Russia, Gaza, Trump

☆ The Retribution Presidency
▼ + stars: | 2024-02-05 | by ( Maggie Haberman | ) www.nytimes.com time to read: +1 min

John Bolton has a warning about what a second Donald Trump presidency might look like. I am your justice, and for those who have been wronged and betrayed, I am your retribution,” Trump told supporters last year. (Trump’s advisers are concerned his public comments about retribution will alienate swing voters. A vindictive Trump second term is now a frequent point of discussion. But Bolton already got a close-up look at Trump’s nature — and how his anger can boil over.

Persons: John Bolton, Donald Trump, “ Trump, ” Bolton, ”, ” Trump, he’s, “, ” President Biden, Bolton Organizations: ”, Trump

☆ House Ethics Committee reached out to Rep. Matt Gaetz’s ex-girlfriend amid ongoing investigation
▼ + stars: | 2024-02-01 | by ( Paula Reid | ) edition.cnn.com time to read: +2 min

The House Ethics Committee investigating Rep. Matt Gaetz has reached out to an ex-girlfriend who was a key witness in the federal investigation into the Florida lawmaker, according to a source familiar with the ethics probe. Gaetz said in a statement to CNN that the Ethics Committee investigation is “payback” for Gaetz’s efforts to oust Kevin McCarthy, the former speaker of the house, and that he sees “through this sham and the American people will too.” The Ethics Committee declined to comment. That federal probe concluded in 2023 with no charges brought against the congressman. She is not expected to voluntarily cooperate with the Ethics probe. But McCarthy has repeatedly denounced those accusations and has said Gaetz worked to oust the former speaker because of the ethics probe.

Persons: Matt Gaetz, Gaetz, Kevin McCarthy, McCarthy, ” McCarthy, “, ”, Annie Grayer Organizations: GOP, Florida Republican, CNN, Capitol Hill, Justice Department Locations: Florida, California

☆ Inside Impeachment’s Rise as a Weapon of Partisan Warfare
▼ + stars: | 2024-02-01 | by ( Peter Baker | ) www.nytimes.com time to read: +1 min

But Mr. Mayorkas is not as lonely as all that. Republicans have also filed articles of impeachment against his boss, President Biden, as well as Secretary of State Antony J. Blinken, Defense Secretary Lloyd J. Austin III, Attorney General Merrick B. Garland and Christopher A. Wray, the F.B.I. director, while threatening them against Transportation Secretary Pete Buttigieg and Education Secretary Miguel Cardona. Indeed, threats of impeachment have become a favorite pastime for Republicans following the lead of former President Donald J. Trump, who has pressed his allies for payback for his own two impeachments while in office. The chances of Mr. Mayorkas, much less Mr. Biden, ever being convicted in the Senate, absent some shocking revelation, seem to be just about zero, and the others appear in no serious danger even of being formally accused by the House.

Persons: impeaches Alejandro, Mayorkas, President Biden, Antony J, Lloyd J, Austin III, General Merrick B, Garland, Christopher A, Wray, Pete Buttigieg, Miguel Cardona, Donald J, Trump, Biden Organizations: Republicans, Transportation

For decades, federal and state officials have struggled to control farm runoff, the biggest source of nutrient pollution that is not typically federally regulated. Water pollution from factories and industry is typically federally regulated. The Biden administration recently proposed toughening regulations on meat and poultry processing plants to reduce pollution, Wall said. When nutrient pollution flows into the Gulf of Mexico, it spurs growth of bacteria that consume oxygen. That affects the productivity of commercial fisheries and marine life in general, but nutrient pollution is also damaging upstream.

Persons: that's, It’s, ”, Olivia Dorothy, Tom Wall, Biden, Wall, Nancy Rabalais, Anne Schechinger, Gregory Klinger, Brad Carlson, Martin Larsen, He's, Larsen, ___ Walling, ___, Melina Walling Organizations: LOUIS, Environmental, Agency, Midwest, EPA, Louisiana State University, University of Minnesota, U.S . Department of Agriculture, Associated Press, Walton Family Foundation, AP Locations: Gulf of Mexico, Mississippi, Rhode Island, New Jersey, Midwest, Minnesota, Olmsted County, Chicago

☆ How the three-year cruise fell apart
▼ + stars: | 2024-01-20 | by ( Julia Buckley | ) edition.cnn.com time to read: +22 min

CNN —In April 2023, George Fox was gearing up for the adventure of a lifetime: a three-year cruise taking him around the world. The high hopes and eventual failure of the Life at Sea cruise reads a bit like a Greek tragedy. When Miray objected, he resigned, along with much of his team, and told passengers the cruise was off. When the cruise was canceled in November, Bayramoğlu told passengers that only 111 cabins were booked. On October 24, Miray’s PR spokesperson told CNN that the departure date had been moved to November 30.

Persons: CNN —, George Fox, “, ”, ‘, Miray, who’d, Meredith Shay, Shay, she’d, Jenny Phenix, I’d, Mikael Petterson, Petterson, “ I’ve, Ethem, Miray’s, “ Vedat, ’ ”, Vedat, Cruises, hadn’t, Kendra Holmes –, –, Petterson –, they’d, Bayramoğlu, Sharon Lane, she’s, ” Shay, ” Holmes, Marit Hommedal, NTB Scanpix, Noel Hansen, Kendra Holmes, Hansen, ’ ” Hansen, ’ Rebecca Varner, Lorna Bolduc, Rebecca Varner, Holmes, Bonnie Kelter, Kelter, Varner, Ugurlu, Phenix, “ I’m, couldn’t, ’ George Fox, he'd, Bolduc, Miray’s Bayramoğlu, ” Miray, who’s, ” Hansen Organizations: CNN, Fox, Miray Cruises, Cruises, Passengers, Gemini, Carnival, Facebook, Life, Getty, US Foreign Service, ‘, Miray’s, ”, Miray Locations: Istanbul, ’, Turkey, Florida, Germany, Bayramoğlu, Petterson, AFP, Clermont , Florida, Costa Rica, New Jersey, Maine, that’s, Miami, Europe, Ecuador, Southern Florida

Activist investor Nelson Peltz is stating his case for joining Disney 's board. The proxy battle comes as Iger tries to streamline the sprawling media company to rein in spending and make its Disney+ streaming platform profitable. Peltz reiterated in a CNBC "Squawk Box" interview Thursday morning that he believes Disney's current board oversight is "awful." Peltz and Rasulo aim to execute a clear vision for the brand's theme parks, targeting "high-single digit operating income growth," according to the filing. Peltz told CNBC on Thursday that he paid a visit to Disney World last week.

Persons: Nelson Peltz, Peltz's, Peltz, Jay Rasulo, they'd, Rasulo, Bob Iger's, Bob Chapek, Trian, Iger, that's Organizations: Disney, Peltz's Trian Fund Management, Netflix, CNBC, ESPN, Hollywood Studios, CNBC PRO Locations: Kingdom

☆ The stock market has cooled off to start 2024, but it's still checking most of the bull market boxes
▼ + stars: | 2024-01-13 | by ( Michael Santoli | ) www.cnbc.com time to read: +8 min

The small-cap Russell 2000 has dropped close to 4% against a fractional gain in the S & P 500 year to date. In broad terms, the S & P 500 could retreat to 4600 or so – about 4% down from here – and still be in a routine technical check-back to its latest launch point in early December. Todd Sohn of Strategas notes that the Invesco S & P 500 Equal Weight ETF (RSP) saw inflows go vertical last year to $13.5 billion, 30% above its prior 12-month record. Betting on 'peacetime' Fed cuts Right or wrong, the market debate right now can never get far before turning into a Fed-policy-path discussion. Last week's CPI and PPI data added to the market's collective conviction that inflation's downside momentum is strong, opening the way for "peacetime" Fed rate cuts.

Persons: that's, Russell, Ned Davis, Tim Hayes, Tony Pasquariello, Goldman Sachs, Henry McVey, KKR's, McVey, Morgan Stanley, Todd Sohn, Strategas, they're, Jerome Powell Organizations: Ned Davis Research, Goldman, Nasdaq, Apple, CPI, PPI Locations: U.S

☆ 16 VCs that are funding the future of entertainment by backing generative AI and other disruptive tech
▼ + stars: | 2024-01-12 | by ( Lucia Moses | ) www.businessinsider.com time to read: +17 min

AdvertisementAfter a period of "wild west" investing in AI, Blank believes activity will favor AI companies that respect artists' consent and compensation. It recently co-led a $1 million seed round in Conduiit, which centralizes entertainment companies' production finance operations. Endeavor Venture InvestmentsEndeavor Venture Investments is the venture arm of entertainment and sports behemoth Endeavor. SWaN & LegendThe Virginia-based VC firm has a broad consumer portfolio that includes a number of entertainment investments. With Hollywood in contraction, SWaN has largely hit pause on new entertainment investments to get its portfolio companies on a strong footing.

Persons: Michael Blank, Blank, Jon Miller, Miller, Slack, Garnet Heraman, BDMI, Urs Cete, Michael, TMRW, Tiger Woods, Rory McIlroy, Elysian Park Ventures Jay Adya, Grant Lamos, Tom Brady, Gotham Chopra, Michael Strahan, Jay Adya, Morgan, Kushaan Ahuja, Drew Glover, Glover, Alex Harris, they've, Noah Doyle, Payback India, Jed Katz, Rich Greenfield, Rich, Ilya Pozin, Jamie Seltzer, LightShed, Steve Cohen's, it's, Sri Chandrasekar, Tripp Shriner, Ishan Sinha, That's, Wondery, Ian Doody, Raine, Gordon Rubenstein, Joe Ravitch, Jeff Sine, ‐, Fred Schaufeld, SWaN, that's, Oscar, Jose, Schaufeld, Sam Wick, Alex J, Investcorp, Paul Yoo, Edgar Bronfman Jr, Daniel Leff, Waverley, Leff Organizations: Service, Creative Artists, Connect Ventures, Business, Hollywood, Veteran, TPG, Integrated Media Co, Advancit, CAA, Bertelsmann, Waverley, Octopus Ventures, Accel, Facebook, Venture, Aperture Venture, Bertelsmann Digital Media Investments, Fremantle, Connect, CAA Connect Ventures, New Enterprises Associates, TMRW Sports, Disney, Universal, Elysian Park Ventures, Elysian, Sports, Endeavor Venture, Endeavor Venture Investments, behemoth Endeavor, Dapper Labs, Fiat Ventures, Fiat Ventures Fiat Ventures, Fiat, Payback, Rent, LightShed, Rich Greenfield Influential, LightShed Ventures, Pluto, Apple, Octopus Ventures Octopus Ventures, Investments, Corp, Etsy, Re, Point72 Ventures New York Mets, Range Media Partners, Point72 Ventures, Sri, Powerhouse, Athletic, The New York Times Co, Evolution Media, Creative Artists Agency, Astro, Rave Digital Media, Accel Entertainment, Jose Andrés Media, Berliner, UTA Talent, UTA, UTA Ventures, Ventures, VR, Amazon, PFL Locations: blockchain, —, Conduiit, fintech, London, Australia, Papercup, Los Angeles, Virginia, UTA.VC

☆ Will 2024 bring good tidings to media and telecom companies? That's unlikely
▼ + stars: | 2023-12-19 | by ( Alex Sherman | ) www.cnbc.com time to read: +10 min

Still, legacy media companies including Disney, Paramount Global, Warner Bros. Since the "Great Netflix Correction" of 2022, there isn't a unifying growth narrative for media and entertainment companies. Disney, Paramount Global and NBCUniversal have all pegged 2025 as their flagship streaming services' first full year of profitability. Beyond financial metrics, several executives privately acknowledged morale has become an increasing concern at legacy media companies. One executive noted he's increasingly hearing from peers that running media and entertainment companies just isn't as fun as it was five or 10 years ago.

Persons: Corey Martin, Granderson Des Rochers, Martin, Jerome Powell, Liu Jie, Shari Redstone, David A, CNBC Shari Redstone, Biden, Sinclair, Lina Khan, Joe Biden, Khan, There's, John Harrison, Brian Roberts, Drew Angerer, Donald Trump, Trump, David Zaslav, Michael M, Disney, Nelson Peltz, Jay Rasulo, Bob Iger, he's, LightShed's Rich Greenfield Organizations: Universal Studios, Warner Bros . Discovery, Disney, Paramount Global, Comcast, Granderson, U.S, Federal, Washington , D.C, Xinhua News Agency, Getty, Treasury, Federal Reserve, Allen, Co . Media, Technology Conference, Grogan, CNBC, Trump, Nexstar, Gray Television, Federal Trade, Verizon, Mobile, NBCUniversal, CBS, NBC, EY, Allen & Company Sun Valley Conference, Trump's Department, Justice, Time Warner, Republican, Democratic, Netflix, Cable, Warner Bros, New York Times, Santiago, Getty Images Media, Management, Paramount Locations: Washington ,, United States, Sun Valley , Idaho, Tegna, Europe, U.S, EY Americas, New York City

In a third suit, Liza Gardner says that in 1990, Mr. Combs coerced her into sex and then, a couple of days later, choked her so hard she passed out. In a statement, Jonathan D. Davis, a lawyer for Mr. Combs, said: “The new claims against Mr. Combs for alleged misconduct from many years ago, which were filed at the last minute, are all denied and rejected by him. Because of Mr. Combs’s fame and success, he is an easy target for accusers who attempt to smear him. As news of those suits ricocheted through social media, accusations from Mr. Combs’s past were resurfaced and dissected. In a 2004 interview, Kimora Lee Simmons, the model and TV personality, said that Mr. Combs had threatened her while she was pregnant.

Persons: ”, Dan Charnas, “, Mr, Combs, Joi Dickerson, Neal, drugging, Dickerson, Ventura’s, Liza Gardner, Jonathan D, Davis, Combs’s, Sean John, Kimora Lee Simmons, Gina Huynh Organizations: Combs Global, New York Legislature, Combs Locations: New York

Search resuls for: "Payback"

25 mentions found