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☆ US inflation will soar if America doesn't undergo reindustrialization, investment manager says
▼ + stars: | 2024-05-07 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +3 min

Prices in the US could keep going up if the US doesn't "reindustrialize" its economy, Richard Bernstein said. The US has a "massive" trade deficit at a time when world trade is becoming fragmented, he noted. AdvertisementInflation will climb higher if the US economy doesn't reindustrialize its economy, according to investment manager Richard Bernstein. World trade has become more fragmented since the pandemic, and rising geopolitical tensions are a sign that the trend is continuing, he said. If it doesn't … we're going to have tremendous inflation here in the United States," Bernstein said to CNBC on Monday.

Persons: Richard Bernstein, —, Bernstein, Ken Griffin Organizations: US, Service, Commerce Department, CNBC, JPMorgan Locations: United States, America

☆ Biden’s antisemitism speech leaves no doubt he’s standing by Israel despite tension with Netanyahu
▼ + stars: | 2024-05-07 | by ( Stephen Collinson | ) edition.cnn.com time to read: +10 min

CNN —The political rawness of the moment, as Israel pounds Gaza and outrage rocks American college campuses, means President Joe Biden’s big speech Tuesday condemning antisemitism is most notable for what he left unsaid. The speech was closely watched given the turmoil in the Middle East and its stunning political reaction in the US. “My commitment to the safety of the Jewish people, the security of Israel, and its right to exist as an independent Jewish state is ironclad. While praising the right to free speech as a fundamental American value, he condemned reported instances when some Jewish students have faced antisemitic taunting. Understanding history and preventing it from being manipulated for political gain was a major focus of Biden’s speech, which was delivered on the 79th anniversary of VE Day, when the allies defeated Nazism in World War II.

Persons: Joe Biden’s, movingly, you’re, ” Biden, Biden, Benjamin Netanyahu, ”, Joe ”, We’re, Biden’s, Donald Trump, Trump, Stormy Daniels, “, ” Johnson, Netanyahu, —, Mike Johnson, ’ Organizations: CNN, Jewish, Hamas, Holocaust Memorial, Capitol, Arab, Israel, Gaza Health Ministry, Democratic, Trump, Republicans, Republican, Louisiana Republican, White, GOP, Nazism Locations: Israel, Gaza, Nazi, Rafah, Michigan, Manhattan, Nazi Germany, United States, Louisiana, Charlottesville , Virginia, Gestapo

☆ The largest yachts owned by tech billionaires, from Mark Zuckerberg to Jeff Bezos
▼ + stars: | 2024-05-05 | by ( Madeline Berg | Grace Kay | ) www.businessinsider.com time to read: +2 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. A few years after he and his wife divorced, Jeff Bezos shelled out on a megayacht. Earlier this year, just before his 40th birthday, Mark Zuckerberg became the rumored owner of a yacht originally built for a Russian oligarch. While many tech billionaires have bought yachts, the richest of the rich, like Bezos, Zuckerberg, and Oracle cofounder Larry Ellison, have gone bigger. AdvertisementHere are the largest yachts owned by tech billionaires, listed in order of length.

Persons: —, Joe, Jeff Bezos, Bezos, Lauren Sanchez, Mark Zuckerberg, Superyachts, Giovanna Vitelli, superyachts, Zuckerberg, Larry Ellison, Evan Spiegel Organizations: Service, Business, Oracle Locations: Russian

☆ The fall of Gucci was inevitable
▼ + stars: | 2024-05-03 | by ( Madeline Berg | ) www.businessinsider.com time to read: +13 min

"We got used to hearing about double-digit growth at Gucci," Fflur Roberts, the head of luxury goods at Euromonitor, told Business Insider. "I think of what a fashion editor is wearing — it's not Gucci," Lindsey Solomon, a fashion publicist, told BI. After taking the top spot on the Lyst Index of fashion's hottest brands in 2022, Gucci dropped to number 11 last quarter. "We still believe the Gucci brand's current growth rate, which is 10 times higher than that of the industry, represents a risk going forward," Morningstar's Sokolova wrote in a 2017 note. Gucci relied heavily on China for its growth, but stores — perhaps including this one in China's Hainan Province — have struggled recently.

Persons: Alessandro Michele's, loafers, Gigi Hadid, Sienna Miller, Steve Madden, ASOS, Sally Singer, Michele, Fflur Roberts, Alessandro Michele, Harry Styles, Billie Eilish, Jared Leto, Kevin Mazur, Bauer, Griffin, Jeff Kravitz, Gucci, Sabato De Sarno, Lindsey Solomon, De Sarno, François, Henri Pinault, China —, Jelena Sokolova, Solomon, Daniele Venturelli, Michele —, Sokolova, It's, Thomas Chauvet, Morningstar's Sokolova, Michele's Gucci, wasn't, Jeremy Moeller, Chauvet, Roberts, Chanel, Gucci's, Gucci hadn't, Hermès, Birkin, Louis Vuitton's Neverfull, Pinault, Louis, Euromonitor's Roberts Organizations: Creative, Gucci, The Recording Academy, Axelle, Morningstar, BI, Citi, Disney, Getty, Revenue, China News Service, Bain, Louis Vuitton Locations: Euromonitor, China, The Asia, Pacific, China's Hainan Province, Asia

☆ DJT stock: Truth Social keeps shrinking despite the Trump trial and looming election
▼ + stars: | 2024-05-03 | by ( Matt Egan | ) edition.cnn.com time to read: +7 min

Yet new data shows its main product — the conservative-friendly social network Truth Social — remains a very tiny player in its industry, and it’s getting even smaller. “If your entire social circle is on a social media platform, that’s a strong pull to sign up. ‘Meme stock’ argumentTrump recently received another 36 million shares of Trump Media as part of a bonus known as earnout shares. Including those new shares, Trump owns 114.75 million shares of Trump Media — a stake valued at $5.6 billion. Of course, Kennedy notes that there is a counter argument that Trump Media is not a typical social media stock, and so traditional metrics like growth and revenue don’t really matter.

Persons: Donald Trump, it’s, ”, Matthew Kennedy, Kennedy, “, Trump, Shannon Devine, ” Devine, Similarweb, Mark Zuckerberg’s Meta, Gettr, Tom Liu, Musk, ” Kennedy Organizations: New, New York CNN, Trump Media & Technology, Trump Media, CNN, Trump, Truth, Renaissance, Social, ” Trump Media, Elon Musk Locations: New York, Similarweb

☆ Opinion: I’ve seen too many young journalists pay the ultimate price. It’s them I’ll be thinking of today
▼ + stars: | 2024-05-03 | by ( Opinion Jon Williams | ) edition.cnn.com time to read: +10 min

When a journalist is killed, it is not just their voice that is silenced: Press freedom is your freedom. Over 30 years ago, the United Nations recognized May 3 as World Press Freedom Day: a global reminder of the importance of press freedom and an opportunity to assess its health around the world. The Committee to Protect Journalists (CPJ) found that at least 100 journalists and media workers have been killed since we last marked World Press Freedom Day. Tragically, on this World Press Freedom Day, our work is needed more than ever. On this World Press Freedom Day, the fallen who gave their lives for the truth should serve as a reminder as to why press freedom is really your freedom.

Persons: Jon Williams, Rory Peck, Read, Jon Williams Rory Peck, Bayeux, ”, Simon Cumbers, Simon, Al, Louise, Cumbers, Johnny Green, Thomas Jefferson, ” Jefferson, it’s, Dom Phillips, Phillips, Aldeia Maloca, Bruno Pereira, Joao Laet, don’t Organizations: Rory Peck Trust, BBC News, ABC News, CNN, 1st Cavalry, Canadian, BBC, The Washington Post, United Nations, Protect Journalists, Getty, United, Twitter, Facebook Locations: Bayeux, Northern France, France, Omaha Beach, Europe, Nazi Germany, Normandy, Paris, “, Saudi Arabia, Al Qaeda, Saudi, Riyadh, Ireland, London, South, Indonesia, Turkey, India, Madrid, Irish, Kabul, Afghanistan, Gaza, Ukraine, Honduras, Sudan, Philippines, Brazil, Aldeia, Roraima, AFP, Britain, United States, Israel, Egypt

☆ Urris: Irish moonshine and the village that declared itself an outlaw republic
▼ + stars: | 2024-05-02 | by ( Yolanda Evans | ) edition.cnn.com time to read: +8 min

Back in the 19th century, however, this county was at the center of an illegal trade in poitín – or Irish moonshine. Inishowen in particular was such a hive of illegal activity that the area was jokingly referred to as the Urris Poitín Republic. Fed up with the heavy fines, the people of Urris declared themselves the independent nation of the “Urris Republic of Poitín” and sealed themselves in by collapsing the pass in 1812, McLaughlin-Doherty explains. The townspeople were able to be self-sufficient because of their farmlands and fishing, thus allowing the Urris Republic of Poitín to last for three years before the coup was ended in 1815. The Catholic Church, a stronghold in Ireland, was instrumental in the eventual curbing of illegal poitín production.

Persons: there’s, Malin, –, uisce, Innis Murray, Martin Hegarty, Jennifer McLaughlin, Doherty, “, Urris, McLaughlin, Poitín, ”, Pat Doherty, poitín, Clara Molden, Aengus King, Pádraic Ó Griallais, Poitin, Ó Griallais Organizations: CNN, Donegal, distillers, Irish Ancestral Tours, Research, “, Catholic, Camera, Drinks, Micil Distillery, Revenue, Department, Agriculture Locations: Inishowen, Ireland’s, There’s, Clonmany, Lenan, poitín, Republic, Ireland, Sligo, Urris, Poitín Republic, Poitín, Urris Republic, Republic of Urris, Ireland’s Shannon, Dublin, Drinks Ireland, Galway, “, Britain

☆ Snapchat avoided 'AI' and leaned into real experiences in its annual pitch to brands
▼ + stars: | 2024-05-02 | by ( Dan Whateley | Sydney Bradley | ) www.businessinsider.com time to read: +6 min

During the Snap-owned app's pitch to brands at its NewFronts presentation on Wednesday in New York, the company emphasized the value of real-world experiences, or IRL, over social-media scrolling. Sharing became contrived, and social media as a whole began feeling like an inauthentic version of our lives rather than a source of genuine connection." It's plastered ads on competitive social media platforms and billboards with its "Less Social Media. Related storiesSnapchat executives mentioned AI just once during the NewFronts presentation, saying the company had used AI models to build augmented-reality lenses. Snap is not the only social platform addressing lonelinessSnapchat's war against social media taps into a broader trend.

Persons: —, Colleen DeCourcy, Cipriani, DeCourcy, TikTok, Dan Whateley, NewFront, Meta's, Mervana Parekh, Snapchat, Patrick Harris, Piper Sandler Organizations: Service, Facebook, Meta, Business, NFL, NBA, NBC, Entertainment, Media, Snap's, Acrew, Big Tech Locations: New York, Manhattan, Americas

☆ Affordable internet gave Native Americans a way to preserve community and culture. Now it’s another broken promise
▼ + stars: | 2024-05-01 | by ( Brian Fung | ) edition.cnn.com time to read: +12 min

Within weeks, the two-year-old US Affordable Connectivity Program (ACP) is set to run out of funds, and Congress appears unlikely to authorize more. Even as many older and rural Americans may be thrust into financial hardship due to the ACP’s collapse, indigenous communities could fare even worse. Because tribal members can now work remotely, they are no longer forced to move away from their communities to seek opportunity, they told CNN. For example, Mitchell said, after decades of decline in Mohawk fluency, a growing number of tribal members are now involved in online language immersion. (AP Photo/Seth Wenig) Seth Wenig/AP/FileInstead, some say, the collapse of the ACP will become another stain on the US government’s centuries-long track record of breaking promises to tribal communities.

Persons: Kelly, ”, “, “ That’s, ” Kelly, Mike Johnson, Pennsylvania Democratic Sen, John Fetterman, Fetterman’s, Jonathan Nez, “ I’ve, Loren King, Geoffrey Starks, ” Starks, Allyson Mitchell, Mitchell, Nez, ” Nez, Derrick VanSoolen’s, Choctaw, ” VanSoolen, they’re, Bois, Randy Long, Gary Johnson, Paul, Seth Wenig, I’ll Organizations: Washington CNN, Mohawk, CNN, Connectivity Program, FCC, Pennsylvania Democratic, Federal Communications Commission, Treasury, US Federal Communications Commission, Mohawk Networks, Navajo, ACP, Emergency, Program, Choctaw Nation, Bois Forte, Paul Bunyan Communications Locations: St, Lawrence, New York, Canadian, Mohawk, America, Navajo, Oklahoma, Oklahoma , Arizona, New Mexico, Alaska, South Dakota, Arizona, Minnesota, Regis

☆ Huawei’s comeback gathers pace as quarterly profit surges
▼ + stars: | 2024-05-01 | by ( ) edition.cnn.com time to read: +2 min

Beijing Reuters —Huawei Technologies’s net profit leapt 564% to 19.65 billion yuan ($2.71 billion) in the first quarter, a regulatory filing by its parent company showed on Tuesday, as it continues to recover from US sanctions. Huawei’s revenue for the quarter to the end of March rose 37% to 178.5 billion yuan, the filing to China’s National Interbank Funding Center showed. It did not break down how business units, such as consumer and smart car components, performed. Apple’s share in the world’s biggest smartphone market fell to 15.7% in the first quarter from 19.7% a year earlier. It has become a force in smart car technology too, with its driver assistance system touted by at least seven Chinese automakers at the Beijing auto show.

Persons: “ digitalization, decarbonization ”, Counterpoint Organizations: Beijing Reuters, Huawei, Apple Locations: Beijing

☆ AI is ushering edtech into a new era. Three investors share what they're most excited about in the space.
▼ + stars: | 2024-05-01 | by ( Samantha Stokes | ) www.businessinsider.com time to read: +7 min

The past few years have been tough for edtech companies. In recent months, multiple edtech startups have raised fresh funding rounds while specifically touting AI as a core part of their business model. These deals could signal that AI is ushering in a new era for edtech companies, and VCs who invest in the space are excited about the renaissance. And Ednition, also one of Donnelly's portfolio companies, provides an infrastructure-as-a-service platform for other edtech companies to improve the data that goes into their AI models. That's why it's so important to invest in ed-tech AI startups that help people rethink how they interact with technology and learn new skills necessary to successfully enter the workforce, he said.

Persons: PitchBook, VCs, Brian Dixon, Dixon, we've, Numerade, Kapoor, Katelyn Donnelly, she's, I've, you'll, Donnelly, Avalance, OpenAI, we're, ChatGPT, Ryan Craig, Craig, edtech Organizations: Business, Labs, Kapor, Partners, Chingona Ventures, TechCrunch, Kapoor Capital, Lirvana Labs, Odyssey Education, University Ventures, ACT Locations: VCs, edtech

☆ Viking is the biggest IPO of the year, capping off a huge month for IPOs
▼ + stars: | 2024-05-01 | by ( Bob Pisani | ) www.cnbc.com time to read: +2 min

The Viking Holdings Ltd. IPO, which starts trading today on the New York Stock Exchange, will be the biggest IPO of 2024 so far. Viking is only the biggest in a month of standouts. Eighteen IPOs raised a combined $5.3 billion in April, according to Renaissance Capital, the busiest month for IPOs since November 2021. The stock market had a miserable April, with the S & P 500 down 4% and, unsurprisingly, many recent IPOs were down. All of the larger, most recent IPOs remain above their initial offering price.

Persons: Del Organizations: Viking Holdings, New York Stock Exchange, Renaissance Capital, IPOs, Viking, Holdings, Epic Locations: Bermuda, Del Monte

☆ Here's why Renaissance's Jeff Degraaf is bullish on China
▼ + stars: | 2024-04-29 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHere's why Renaissance's Jeff Degraaf is bullish on ChinaJeff deGraaf, Renaissance Macro Research chairman, joins 'Closing Bell' to discuss his market outlook and bullish attitude toward China.

Persons: Jeff Degraaf, China Jeff deGraaf Organizations: Macro Locations: China

☆ Oracle boosts its generative AI capabilities as cloud competition heats up
▼ + stars: | 2024-04-29 | by ( Sheila Chiang | In Sheilachiang | ) www.cnbc.com time to read: +4 min

(Photo by PAU BARRENA / AFP) (Photo by PAU BARRENA/AFP via Getty Images)U.S. cloud infrastructure provider Oracle is boosting its generative AI capabilities as cloud competition intensifies and more companies jump into AI. Oracle has been introducing generative AI capabilities into its cloud infrastructure and applications to complement the traditional AI already embedded in them. The generative AI capabilities can perform tasks such as generating financial reports and drafting job ads, improving productivity and reducing business costs, Oracle said. JPMorgan has said generative AI and AI could drive incremental IT spending and growth across the software landscape. "Generative AI services [are] basically a huge advantage comparing with our competition.

Persons: PAU BARRENA, ChatGPT, Rondy Ng, it's, Ng, Dan Ives, Ellison, Ives, Larry Ellison, Gartner Organizations: Mobile World Congress, MWC, Getty Images, Oracle, CNBC, Wedbush Securities, JPMorgan Locations: Barcelona, AFP, U.S

☆ Detroit's 'doom loop' was unlike any other American city. Its downtown is now a model for urban reinvention.
▼ + stars: | 2024-04-28 | by ( John L. Dorman | ) www.businessinsider.com time to read: +4 min

But the city's downtown has one of the most stunning urban reinvention stories in the United States. Downtown Detroit recently hosted the NFL Draft to rave reviews and even broke an attendance record. AdvertisementLast week, more than 775,000 football fans converged in downtown Detroit for three days as the city hosted the NFL Draft. NFL fans near the draft stage at Campus Martius Park in downtown Detroit on April 27, 2024. Downtown Detroit has an abundance of towering, historic buildings that are perfect for office-to-housing conversions and office renovations that have taken hold in downtowns across the country.

Persons: —, Ryan Kang, Spencer Platt, Gen Zs, it's, Dan Gilbert Organizations: Downtown, NFL, Service, Detroit, Nashville, Martius, Renaissance, Miami, General Motors, Getty, Rocket Mortgage, Quicken, GM, Renaissance Center Locations: Detroit, United States, Downtown Detroit, Hudson's Detroit, downtowns

☆ Opinion: Winds of fate confront Trump
▼ + stars: | 2024-04-28 | by ( Richard Galant | ) edition.cnn.com time to read: +19 min

We’re looking back at the strongest, smartest opinion takes of the week from CNN and other outlets. To Trump’s delight, the top court’s session dimmed the chances the federal case will go to trial before the election. (Trump has denied the affairs with Daniels and McDougal and has pleaded not guilty to the hush money charges. Here’s why we should tune in anyway 04:27 - Source: CNNAs SE Cupp noted, “Trump and Biden debated twice in 2020. Chris Pizzello/Invision/APCNN anchor Victor Blackwell is a fervent Beyoncé fan but her foray into country music didn’t initially grab him.

Persons: CNN —, Yabushige, Yoshii, ”, “, Toranaga, Donald Trump’s, Trump, Stormy Daniels, Jack Smith, Steve Vladeck, Neil Gorsuch, ” Clay Jones, immunizing Trump, John Roberts, Roberts, ” Vladeck, Joey Jackson, David Pecker, Pecker’s “, Michael Cohen …, Norm Eisen, George T, Conway III, Jill Filipovic, Melania Trump, Melania, Daniels, McDougal, ” Bill Bramhall, Frida Ghitis, Jonathan Greenblatt, ” “, Rev, Serene Jones, Israel … ”, Julian Zelizer, …, Lyndon Johnson, Hubert Humphrey, Richard Daley, Richard Nixon, Fareed Zakaria, Ian Berlin, I’m, Bill Bramhall, Kara Alaimo, ” Alaimo, “ Trump, Biden, CNN’s Jake Tapper, ABC’s George Stephanopoulos, Chip Bok, Clarissa Wei, Mike Johnson, Sen, John Fetterman of, Johnson, Scott Jennings, it’s, Mark Hannah, “ Biden, ” Biden, Hannah, Deborah Carr, Gerry Turner, Theresa, ’ —, ” Carr, ” Don’t, Terri Gerstein, Hasan Merali, Tess Taylor, Jeff Yang, Dean Obeidallah, Joey Weatherford, Beyoncé, Chris Pizzello, Victor Blackwell, didn’t, ’, Carter, she’s, CNN FlashDocs, Duke Ellington, Sammy Miller, Billy Strayhorn, Ellington, Strayhorn, Michael Ochs, “ Ellington, — Organizations: CNN, Republican, Art Deco New, “, Trump, New, American Media, National Enquirer, Agency, Columbia University , Yale, Defamation League, Hillel, Columbia, Force, Union Theological Seminary, New York City Police Department, Columbia University, Twitter, Facebook, Democratic, Convention, Chicago police, Yale, Real Housewives, Syndicate, Theresa Nist, Nashville’s, Max, Michael Ochs Archives Locations: New York, Washington, Florida, Georgia, Israel, Israeli, Columbia, Gaza, Chicago, Vietnam, Taiwan, China, America, Taipei, ”, Ukraine, John Fetterman of Pennsylvania, Fetterman, Crimea, Los Angeles, Sugar, Harlem

☆ Opinion: What made Duke Ellington a true genius
▼ + stars: | 2024-04-27 | by ( Opinion Sammy Miller | ) edition.cnn.com time to read: +8 min

CNN —This spring marks both the 50th anniversary of Duke Ellington’s death, and what would have been his 125th birthday. I use their particular ways of expressing themselves and it all becomes part of my own style.”To know Duke Ellington is to know his band — although few can name its other members today. Composer and bandleader Duke Ellington hovers over fellow pianist and band member Billy Strayhorn in this 1948 photograph. “Ellington plays the piano, but his real instrument is the band,” Strayhorn said. If it involved music, Ellington gave it a shot, always with his band in tow.

Persons: Sammy Miller, Duke Ellington’s, Duke ”, Ellington, “, ” Ellington, Duke Ellington, Sonny Greer, Greer, Miley, Jimi Hendrix’s, Harry Carney, Billy Strayhorn, Strayhorn, “ Ellington, ” Strayhorn, ”, Juan Tizol, Lawrence Brown, Clark Terry, — Organizations: Juilliard, CNN, New, Washington D.C, Harlem Renaissance, Ellington, Getty Locations: Harlem, New York, Washington, New Orleans, Pittsburgh, Sugar

☆ Ford tapped the brakes on EVs and bet on hybrids. It's paying off.
▼ + stars: | 2024-04-26 | by ( Tom Carter | ) www.businessinsider.com time to read: +3 min

Read previewFord's bet on hybrids looks like it's paying off. By comparison, the company's pure EV business has struggled. Ford's crosstown rival General Motors, meanwhile, has reversed its "all-in" electric vehicle strategy and pledged to bring back hybrids into its North American vehicle lineup. Not to be outdone, Ford is also doubling down on hybrids, even as it cuts back on some EV investments. "The EV adoption rate globally is under pressure, and a lot of other auto manufacturers are pulling back on EVs and pursuing plug-in hybrids instead," said Musk in the company's earnings call.

Persons: —, Jim Farley, Farley, Ford, Elon Musk, Motors, Jim Baumbick Organizations: Service, Detroit, US, Toyota, Honda, Business, Ford Model, Motors, Volkswagen, EV, The New York Times, American, Elon Locations: North America

☆ How the Black Opry is helping elevate artists of color in country music
▼ + stars: | 2024-04-26 | by ( Lisa Respers France | ) edition.cnn.com time to read: +5 min

CNN —Before there was conversation over whether Beyoncé is country enough for country music, there was the Black Opry, holding space for music lovers and artists of color in the genre. “I’m super, super excited about that because that’s the single piece that’s been really, really difficult for us to figure out. Courtesy BeyoncéHolly G. started the Black Opry in an attempt to find country fans of color, who like her, did not feel welcomed. “I try to be careful to make the distinction when I talk about country music, between country music and the mainstream industry and country music the art form and genre,” she said. “I got my first tour with Sara Shook & the Disarmers and Joshua Ray Walker thanks to the Black Opry,” Vance told CNN.

Persons: CNN FlashDocs, Max, Beyoncé, Cowboy Carter, ”, Holly G, “, it’s, They’ve, Aaron Vance, Mickey Guyton, Darius Rucker, Kane Brown, Vance, Sara Shook, Joshua Ray Walker, ” Vance, It’s, he’s Organizations: CNN, Nashville’s, Black Opry, The, Opry Locations: Beyoncé, Nashville, Mississippi

☆ The IPO reopening is real. Just look at Rubrik, the first unicorn to go public in months
▼ + stars: | 2024-04-25 | by ( Bob Pisani | ) www.cnbc.com time to read: +4 min

Last night data security firm Rubrik priced 23.5 million shares at $32, above the price talk of 23 million shares at $28-$31, raising $752 million. Rubrik is the first tech unicorn IPO since last fall. Marex Group, a UK-based financial services company known for its global clearing business, priced 15.4 million shares at $19, the midpoint of the price talk of $18-$21, raising $292 million. Loar Holdings, which makes aerospace and defense components, priced 11 million shares at $28, above the range of $24-$26, raising $308 million. All eyes on Rubrik Rubrik is an important test of the tech IPO market.

Persons: Matt Kennedy, Rubrik, Kennedy, Ingram, Del Organizations: Marex, Nasdaq, Loar Holdings, New York Stock Exchange, Viking Holdings, Arm Holdings, Renaissance Capital, UL, Astera Labs, Forge, Companies, Ingram Micro, Epic Locations: Del Monte

☆ Airbus misses on operating profit, raises A350 output goal
▼ + stars: | 2024-04-25 | by ( ) www.cnbc.com time to read: 1 min

An Airbus A350-941 is undergoing a test flight at Toulouse Blagnac Airport in Toulouse, France, on December 8, 2023. Airbus posted weaker than expected first-quarter operating profit and cashflow after hiring more staff to prepare for rising aircraft demand, but reaffirmed its financial goals for 2024 after a nervous start to the year on industrial costs. The world's largest planemaker also announced a higher output target for its wide-body A350 model, of 12 a month in 2028, amid a renaissance in demand for long-haul jets. Airbus reported 577 million euros in adjusted operating profit, down 25% on the year, revenue of 12.83 billion and a free cash outflow of 1.8 billion euros. Analysts were on average expecting operating profit of 789 million euros and an outflow of 1.3 billion euros, according to a company-compiled survey.

Organizations: Airbus, Toulouse Blagnac Airport Locations: Toulouse, France

☆ Turner Prize Shortlist Leans In to Artists’ Identities
▼ + stars: | 2024-04-24 | by ( Alex Marshall | ) www.nytimes.com time to read: +1 min

Claudette Johnson, a Black British visual artist who is experiencing a late-career renaissance, and Jasleen Kaur, an artist whose installations have explored her upbringing in a Scottish Sikh community, are among the nominees for this year’s Turner Prize, the prestigious British art award. The four-person shortlist was announced on Wednesday at a news conference at the Tate Britain art museum in London. Each artist is nominated for an exhibition held in the past 12 months, and Tate Britain will host a group show of their work from Sept. 25 to Feb. 16, 2025. Johnson, 65, whose portraits of Black women and men in pastels and watercolor are held in the collections of Tate and the Baltimore Museum of Art, is the highest-profile artist shortlisted. Her career began in the 1980s as a member of the Blk Art Group, a British collective, but she stopped exhibiting for decades while she raised two children.

Persons: Claudette Johnson, Jasleen Kaur, year’s Turner, Johnson, Black, ” Organizations: Scottish Sikh, British, Tate, Baltimore Museum of Art, Art, New York Times Style Locations: British, Scottish, Tate Britain, London

☆ Remember that Versace dress Jennifer Garner wore in ‘13 Going on 30"?
▼ + stars: | 2024-04-23 | by ( Marie Lodi | ) edition.cnn.com time to read: +8 min

DeSanto accessorized the dress with colorful Swarovski crystal jewelry by Tarina Tarantino, including a blue butterfly statement necklace. Columbia Pictures/Everett CollectionDecades later, the dress has become a beloved artifact for nostalgic rom-com fans and modern fashion enthusiasts alike. “(Garner) put it on, we got her all dolled up, she went to dance, and we moved on,” she said. DeSanto also credits director Gary Winick, who died in 2011, for the film’s fashion sense. As DeSanto points out, “13 Going on 30” is a story about a young woman coming into herself — and how, more than anything, it’s important just to be yourself.

Persons: —, Jenna Rink, Gilson nightgown, baguette, Susie DeSanto, Jennifer Garner, Miu Miu, Prada, Ralph Lauren, Roberto Cavalli, Versace, ” DeSanto, “ I’d, Giovanni Giannoni, Jenna, partygoers, Michael Jackson’s, — Versace, DeSanto, Tarina Tarantino, Tarantino, Marc Jacobs’s, — she’s, ”, “ It’s, Betsey Johnson tutus, Christa B, Allen, Ariana Grande, wasn’t, weren’t, “, Garner, Stella McCartney, Alberta Ferretti, Mark Ruffalo, Jen, we’re, I’ve, Gary Winick, Gary, ” Winick, Mark Ruffalo’s Organizations: CNN, Fairchild, Penske Media, Columbia Pictures, Everett Locations: Manhattan, lockstep, Barney’s, Italy, Etsy, Alberta, “, New York

☆ Breasts take center stage at Venice Biennale exhibition
▼ + stars: | 2024-04-22 | by ( Jacqui Palumbo | ) edition.cnn.com time to read: +4 min

CNN —What is one of the earliest and enduring subjects in art and media — as well as one of the most censored? And these are all themes explored broadly in the exhibition “Breasts,” a robust survey on display at the 60th Venice Bienniale. “It’s very intimate, so it’s perfect for international artists to develop a dialogue with each other,” she said in a video call. “Artists keep going back to it.”“It’s been a wonderful moment to contemplate my own relationship with the meaning of breasts,” she added of the show. Scroll to see artworks from the show, which will run through November 24 at the Palazzo Franchetti.

Persons: they’re, Cindy Sherman, Robert Mapplethorpe, Salvador Dalí, Anna Weyant, Chloe Wise, Lakin, Carolina Pasti, “, ”, Bernardino del Signoraccio, Sherman, Jesus, Del, Raphael, Flavio Gianassi, we’ve, Teniqua Crawford, “ It’s, Todd White, Europe Allen Jones, Maggiore Allen Jones, Maggiore Laura Panno, Christopher Bucklow, Tetrarch, Claudia, Schiffer, Christopher Bucklow Giorgio de Chirico, Nudo, Turin Louise Bourgeois Organizations: CNN, Venice Bienniale, Artists, Buchanan Studio, Maggiore Locations: Venice, Europe, Italy

☆ Truth Social: Donald Trump is on the verge of another $1 billion windfall
▼ + stars: | 2024-04-22 | by ( Matt Egan | ) edition.cnn.com time to read: +5 min

As long as Trump Media & Technology Group’s share price doesn’t spectacularly implode before Tuesday’s closing bell, Trump is on track to receive another 36 million shares as the owner of Truth Social. Even though Trump Media is losing money and Truth Social is very tiny, those new shares Trump is in line to receive would be valued at about $1.3 billion at current prices. Of course, Trump Media’s share price is subject to extreme volatility, meaning the value of this stake can swing wildly. ‘Grossly overvalued’Even though Trump Media’s share price has retreated since spiking to $66 last month, experts warn it remains overvalued based on fundamental metrics. Ritter, who has been studying IPOs for four decades, expects Trump Media’s share price to eventually plunge to just $1 or $2 per share.

Persons: Donald Trump, Trump, ”, Michael Ohlrogge, ‘, Matthew Kennedy, Kennedy, Jay Ritter, University of Florida . Ritter, Peter Byrne, Cooley Organizations: New, New York CNN, Trump Media & Technology, Truth, Trump Media, Trump, SEC, NYU School of Law, Renaissance, Facebook, Meta, University of Florida, NYU Locations: New York

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