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London CNN —Ariana Grande, Adele and Rihanna will soon be back on TikTok, joining Taylor Swift after a deal with Universal Music Group ended a feud that saw one of the world’s biggest record labels pull its music from the video platform. The licensing agreement, announced Wednesday, means that within one to two weeks TikTok’s 1 billion-plus users will be able to use music by UMG artists in their videos. All videos featuring Universal artists’ music that had previously been muted because of copyright violations will be unmuted. “We are pleased to have found a path forward with Universal Music Group,” TikTok CEO Shou Chew said in a joint statement. Universal pulled its music off TikTok in February after the two companies failed to reach an agreement on royalty fees for Universal’s artists, who also include Lady Gaga, Coldplay and Justin Bieber.
Persons: London CNN — Ariana Grande, Adele, Rihanna, Taylor Swift, Michael Nash, Shou Chew, Lady Gaga, Coldplay, Justin Bieber, TikTok, Organizations: London CNN, Universal Music Group, , UBS, Universal, TikTok, Poets Department Locations: TikTok
She wanted to customize her own product and thought it could be a good business idea. Profits for growthTo date, Lin's sales on Amazon since 2022 are at $688,000 according to records of her Amazon account viewed by Business Insider. Despite those astronomical sales, Lin says she's still breaking even. She's now able to pay her team in China, but she's not yet paying herself a salary. She realized that not everything is a good business idea.
Persons: Bella Lin, Lin, she's, She's, Lin doesn't, TLeggings Organizations: Service, Business, Amazon Locations: China, Amazon
Some legal observers believe the Weinstein decision could prove relevant as the hush money trial against former President Donald Trump unfolds in Manhattan. Judge Juan Merchan, who is overseeing the trial and making day-by-day decisions about what evidence is allowed in court, is bound to the same guidelines as the Weinstein trial judge. Stephen Gillers, professor of law at New York University, said the Weinstein ruling will certainly be important to Merchan. Judge Madeline Singas dissented from the Weinstein appeals court ruling, saying the information was needed for the jury to consider. Gillers said the Weinstein decision is not just weighing on the judge’s mind.
Persons: Harvey Weinstein’s, Weinstein, , “ Sandoval ”, Donald Trump, Judge Juan Merchan, Sandoval, Douglas Wigdor, , Trump, Stormy Daniels, It’s, Karen McDougal, Trump’s, McDougal, Daniels, Ronan Farrow, Harvey Weinstein, Merchan, Stephen Gillers, ” Gillers, Deborah Tuerkheimer, Madeline Singas, ” Singas, ‘ Sandoval ’, Weinstein judge’s Sandoval, Augustin Sandoval, Jean Carroll, Tuerkheimer, Merchan’s, he’s, ” Tuerkheimer, Arthur Aidala, Aidala, ” Aidala, “ Harvey, Gillers, , won’t Organizations: CNN, New, Trump, Molineux, New York University, Northwestern University, ” Prosecutors, Weinstein Locations: New York, Manhattan, Weinstein’s
Video ads within Roblox are similar to real-world digital out-of-home advertising. A Roblox Portal Ad for a "Teenage Mutant Ninja Turtles" pizza party experience. Roblox/GamefamRoblox's partnerships boss, Christina Wootton, previously told Business Insider that while 2023 was a year of testing, 2024 would be the "year of scale" for its ads business. Roblox ads are labeled and can only be served to users over the age of 13, the company said. "If you literally just slap ads within the game, people are going to run a mile," Litman added.
Persons: Roblox, we'll, Stephanie Latham, Christina Wootton, Michael Guthrie, Latham, Ben Fox, David Vesper, it's, Nathan Pillot, Pillot, It's, Michael Litman, Litman Organizations: Business, Walmart, Warner Bros . Pictures, HUGO, Meta, Yahoo, Google, Social, viewability, Media.Monks, Logitech Locations: Roblox
AdvertisementThe units are combining their outsourced investment services for ultra-high-net-worth wealth clients and institutional customers. The wealth management arm is there to help them pay less taxes on their windfall and manage their fortune. That said, Morgan Stanley has drawn the line in the past at some offerings like health savings accounts. AdvertisementFor Finn, those offerings are a means to an end: converting as many of these clients as possible to become fee-paying wealth management clients. The revenue and margins of the workplace channel and E-Trade, which Morgan Stanley acquired for $13 billion in 2020, are "irrelevant," he said.
Persons: , Morgan, Jed Finn doesn't, Finn, Andy Saperstein, James Gorman's, Saperstein, Jacques Chappuis, Ben Huneke, Andy Saperstein's, Larry Lettera, Wagner, multibillion, Morgan Stanley, Finn isn't, We're, Jeff McMillan Organizations: Service, McKinsey, bank's, Business, Wall Street, Solium, OpenAI, AIMS
Every weekday, the CNBC Investing Club with Jim Cramer releases the Homestretch — an actionable afternoon update, just in time for the last hour of trading on Wall Street. Before last week's strong quarter, CNBC learned that Alphabet's Google had laid off hundreds of employees from so-called core teams. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.
Persons: Jim Cramer, Jerome Powell, Powell, It's, Morgan Stanley, DuPont, Jim, Laxman Narasimhan's, Estee Lauder, Stanley Black, Decker, Bernstein, Toni Sacconaghi, Apple, Sacconaghi, Jim Cramer's Organizations: CNBC, Federal Reserve, Dow, Nasdaq, Google, West Texas, Coterra, Cruise, Viking Holdings, Investment, Morgan, GE Healthcare, Nvidia, Big Tech, Linde, Bausch Health, Apple, Jim Cramer's Charitable Locations: India, Mexico, Gaza, WTI, Wall, China
Over the last two weeks, major cloud providers Amazon, Microsoft, and Alphabet have reported quarterly earnings that exceeded Wall Street's expectations. Amazon, Microsoft, and Alphabet's shares also climbed after earnings were reported, evidence that doubling down on their AI strategies seems to be paying off. Davidson Companies analyst Gil Luria told Business Insider regarding Amazon, Microsoft, and Alphabet. Microsoft Cloud generated $35.1 billion in revenue — up 23% year-over-year — that CEO Satya Nadella credits partly to investments into AI tools like Microsoft Copilot. Amazon, Microsoft, and Alphabet didn't immediately return a request for comment from Business Insider before publication.
Persons: , D.A, Gil Luria, Claude, Andy Jassy, Satya Nadella, Nadella, Ruth Porat, OpenAI's ChatGPT, Luria, doesn't, Jassy, Sundar Pichai Organizations: Service, Microsoft, Business, Davidson Companies, Amazon, Web Services, Google Cloud, Google, Gemini, Research, Capital Locations: Indonesia
Richard Tandy, the keyboardist for the British rock band Electric Light Orchestra, whose riffs helped define the futuristic blend of Beatles-esque pop and orchestral arrangements that catapulted the group to global fame in the 1970s, has died. Mr. Lynne, who called Mr. Tandy his “longtime collaborator,” did not specify when Mr. Tandy had died or the cause of death. Born on March 26, 1948, in Birmingham, England, Mr. Tandy first entered the orbit of E.L.O. by playing the harpsichord in a band with Bev Bevan, who would later become E.L.O.’s drummer. after the release of its first album in 1972, initially playing bass guitar but later becoming the group’s keyboardist after another founding member left.
Persons: Richard Tandy, Jeff Lynne, Lynne, Tandy, , Bev Bevan, Organizations: Orchestra, E.L.O Locations: British, Birmingham, England
70 House Democrats voted against it, including the longest-serving Jewish House Democrat. AdvertisementThe House of Representatives passed a bill on Wednesday designed to crack down on antisemitism on college campuses. The bill sailed through by a 320-91 bipartisan vote, with 70 House Democrats and 21 House Republicans voting against it. In December, Nadler also led 92 House Democrats in voting "present" on a GOP-sponsored resolution that equated anti-Zionism with antisemitism. 13 House Democrats voted against the resolution outright.
Persons: , Mike Lawler, That's, Jerry Nadler —, Nadler, Hakeem Jeffries, Mike Johnson, Marjorie Taylor Greene, Jesus Christ, Jesus, Herod, Read, Y0eeOiVfnw —, Marjorie Taylor Greene 🇺🇸 ( Organizations: Jewish House Democrat, Service, Democrats, Republicans, Lawmakers, Republican Rep, of Education, International Holocaust, Alliance, State, Jewish House, Department of Education, Department, Education, GOP, Interagency, Force, House, Catholic Locations: York, Israel, Georgia
Super Micro Computer shares are selling off at the moment, but major Wall Street firms are hopeful about the company's long-term prospects. Super Micro, one of the vendors that builds Nvidia-based servers, released quarterly results on Tuesday after market close. Super Micro also bumped up its fiscal 2024 revenue guidance above its previously estimated range and what analysts are expecting. But a revenue miss dragged shares of Super Micro 16% lower on Wednesday. On the other hand, Goldman Sachs and Wells Fargo maintained their neutral-equivalent ratings for shares of Super Micro.
Persons: LSEG, Samik, Chatterjee, Ruplu Bhattacharya, George Wang, Wang, Goldman Sachs, Wells Fargo, Wells, SMCI, Michael Ng, Ng Organizations: Micro Computer, Nvidia, Super, JPMorgan, Barclays, Bank of America, DELL Locations: CY25, East, UAE, Saudi Arabia, Sweden, Japan, Korea, Malaysia
The law firm at LaRocca, Hornik, Greenberg, Kittredge, Carlin & McPartland asked to withdraw from the case filed by Arlene "A.J." Delgado told Parker in a filing Monday that she objected to LaRocca, Hornik's motion to withdraw from the case. Defendants include Donald J. Trump For President, Inc., former Trump White House chief of staff Reince Priebus, former White House advisor Steve Bannon and former White House press secretary Sean Spicer. Delgado noted that on April 24, Parker had granted her request that Trump's campaign "must produce any complaints of: gender discrimination, pregnancy discrimination, and sexual harassment, through the 2020-election cycle." CNBC has requested comment from one of LaRocca, Hornik's lawyers, and from a spokesman for Trump's current campaign for president.
Persons: Donald Trump's, Hornik, Greenberg, Kittredge, Carlin, McPartland, Arlene " A.J, Delgado, Katharine Parker, Jason Miller, Parker, LaRocca, Donald J, Reince Priebus, White, Steve Bannon, Sean Spicer Organizations: Trump, Inc, Trump White House, White House, CNBC Locations: New York, LaRocca, U.S, Manhattan
covers criminal justice in New York, with a focus on the Manhattan district attorney’s office and state criminal courts in Manhattan.
Locations: New York, Manhattan
The same bacteria that commonly cause food-borne illnesses, like salmonella, E. coli and listeria, can fester in raw milk. Between 1998 and 2018, researchers linked over 200 outbreaks, which sickened 2,645 people and led to 228 hospitalizations, to raw milk. Can you catch bird flu from raw milk? Researchers and health officials are not sure whether bird flu can spread from raw milk to humans. “There’s not a tremendous amount of studies showing the infectivity related to this virus and raw milk products,” Dr. Prater said.
Persons: I’m, , Dean Blumberg, isn’t, Darin Detwiler, Rosemary Sifford, “ There’s, Dr, Prater Organizations: UC Davis Health, Food and Drug Administration, College of Professional Studies, Northeastern University, Department of Agriculture
The Louisiana secretary of state has ordered that the congressional map be finalized by May 15. Even so, they said, it was evident that creating a second district with a majority of Black voters was lawmakers’ overarching objective. But in the map drawn by the Republican-controlled Legislature, only one of the six congressional districts had a majority Black population. The ruling reaffirmed the Voting Rights Act of 1965, which had been diminished over the years by the court’s conservative majority. Critics of Tuesday’s ruling argued that the repercussions in Louisiana could extend beyond a single election, or even partisan divisions.
Persons: , Critics, Eric H, Holder Jr, Liz Murrill, “ I’ve, , David C, Joseph, Robert R, , Carl E, Stewart, , Tuesday’s, Ashley Shelton, Ms, Shelton Organizations: Black, U.S . Constitution, National Democratic, Republican, U.S, Supreme, . Constitution, State Legislature, Lawmakers, U.S ., Appeals, Fifth Circuit, American, Western, Western District of, Louisiana Legislature, voters, Power Coalition for Equity, Justice Locations: Louisiana, U.S ., ., Baton Rouge, Shreveport, Western District, Western District of Louisiana, Black, U.S
Anthropic CEO Dario Amodei said training AI could one day cost $100 billion. Amodei told CNBC that he isn't worried about the commoditization of large language AI models. Amodei told CNBC that current models already cost a company $100 million to develop — and that price will only increase as the technology advances. "I think we're going to see models trained in the next year are going to be about $1 billion," Amodei told the outlet. Amodei said some AI models may specialize in topics like law or national security, while others could gain expertise in biochemistry.
Persons: Dario Amodei, Amodei, , Claude, Daniela Amodei, Elon Musk, we're Organizations: CNBC, Service, Amazon, Google Locations: Anthropic
"Dance Moms: The Reunion" brings back some of the original cast members from the Lifetime series about the cutthroat environment of competitive dance — but there's at least one former star you won't see. Abby Lee Miller, the dance instructor who founded the Abby Lee Dance Company at the center of "Dance Moms," doesn't appear in the special, though there are plenty of clips shown of Miller berating the show's young cast (or their mothers). Fellow "Dance Moms" alum JoJo Siwa has said that she speaks to Miller on a regular basis, telling E! Hilliker told E! "Dance Moms: The Reunion" airs May 1 at 8 p.m.
Persons: Abby Lee Miller, Abby Lee, Miller, — Brooke, Paige Hyland, Kendall Vertes, Kalani, Chloé Lukasiak, JoJo Siwa —, would've, Hilliker, Brooke Hyland, Paige, Kelly Hyland, Kelly, JoJo Siwa, Vertes, Abby, we're Organizations: Service, Abby Lee Dance Company, Business, Lifetime, Hulu Live
A California company is recalling organic walnuts that were sold at natural food stores and coop retailers in 19 states because of an E. coli outbreak that has sickened 12 people and hospitalized seven, federal officials said. The recall came after the Centers for Disease Control and Prevention notified the company of 12 recorded illnesses that were linked to the walnuts. They were distributed at more than 300 food retailers, including Whole Foods Market, New Seasons Market and Rosauers Supermarkets, the F.D.A. An investigation is underway to determine the potential source of the contamination, the F.D.A. The company did not immediately respond to inquiries on Wednesday.
Persons: Gibson Organizations: and Drug Administration, Centers for Disease Control, Foods, Rosauers Locations: California, Hollister , Calif
Change Healthcare provides payment, revenue management and other solutions like e-prescription software. UnitedHealth told CNBC in April that it paid a ransom to try and protect patient data. Its business unit Optum — which provides care to 103 million customers — and Change Healthcare — which touches one in three patient records — merged in 2022. Committee Chairman Sen. Ron Wyden, D-Ore., said in his opening remarks that the Change Healthcare breach serves as a "dire warning about the consequences of too-big-to-fail mega-corporations." Sen. Michael Bennet, D-Colo., pressed Witty to share how UnitedHealth is working to ensure something like the Change Healthcare breach will not happen again.
Persons: Andrew, UnitedHealth, Sen, Ron Wyden, Wyden, Thom Tillis, they're, Tillis, Blackcat, Michael Bennet Organizations: Senate, Capitol, U.S ., Finance, UnitedHealth, Healthcare, CNBC, U.S . Securities, Exchange Commission, U.S . Department of Justice Locations: Washington , DC
Pfizer — Shares climbed more than 2% after New York City-based Pfizer beat Wall Street's first-quarter revenue forecast and raised its full-year profit guidance. CVS expects adjusted earnings of at least $7 per share for 2024, down from previous guidance of $8.30 per share. Analysts were expecting $8.28 per share, according to LSEG. A second-quarter revenue forecast also surpassed expectations, with Pinterest forecasting sales of $830 million to $850 million vs an LSEG consensus estimate of $827 million. Fiscal third-quarter revenue of $3.85 billion missed the Street's consensus estimate of $3.95 billion, according to LSEG.
Persons: Wall, Marriott, Estée Lauder, Estee Lauder, LSEG –, Kraft Heinz —, Powell, Macheel, Alex Harring, Sarah Min, Michelle Fox Organizations: Pfizer —, New, Pfizer, CVS, Marriott, LSEG, Starbucks, AMD —, AMD, Yum, KFC, Taco Bell, Powell Industries Locations: New York City, LSEG, Houston
The second is the rate of EV sales growth is slowing, at least temporarily. The EV market is not collapsing, experts say, it’s just entering a new phase. Teslas still make up slightly more than half of all the electric vehicles sold in America, according to a report from Cox Automotive. But, just one year ago, Tesla produced more than 60% of all the EVs sold America. After having trouble cranking up production of its new generation of electric vehicles, GM seems to be accelerating.
Persons: it’s, , Coco Zhang, , Teslas, Tesla, Cox, Ford, China’s Geely, Michael Lenox, Corey Cantor, Cantor, ” Cantor Organizations: New, New York CNN, International Energy Agency, ING, CNN, Cox Automotive, Ford, General Motors, Blazer, European Federation for Transport, Volvo, EV, China Passenger Car Association, University of Virginia, Bloomberg New Energy Finance, Vehicles, Chevrolet Bolt, Dodge Locations: New York, That’s, EVs, America, China, Europe, United States,
NPR declined to comment, but Ms. Maher may have a scheduling conflict. According to an agenda of NPR’s upcoming board of directors meeting, Ms. Maher is scheduled to convene with NPR’s board all day on May 8. Mr. Berliner’s essay has generated vociferous pushback from many employees at NPR, who say that many of his points were factually inaccurate. In one post, from 2018, Ms. Maher called Mr. Trump a “racist”; another from 2020 showed her wearing a hat with the logo of the Biden campaign. NPR has said that Ms. Maher, the former chief executive of Wikimedia, wasn’t working in news at the time she made the posts, and added that she was exercising her First Amendment right to free expression.
Persons: Maher, Uri Berliner, Berliner, Hunter, Tony Cavin, NPR’s, Robert S, Mueller III, hewed, Donald J, Trump, Biden Organizations: NPR, Trump, Wikimedia
In today's big story, what another delay to interest rate cuts means for a market banking on them. The big storyThe waiting game continuesChip Somodevilla/Getty Images; BISpoiler alert: The Federal Reserve won't be lowering interest rates today. The official announcement won't come until this afternoon, but interest rates staying where they are is a forgone conclusion. The CME FedWatch Tool, which calculates the probability of the Fed's decision based on interest rate traders, has the odds of rates staying untouched at 97.5%.) Talk of cutting interest rates has been going on for the better part of a year.
Persons: , it's, doesn't, We'll, Chip Somodevilla, Jerome Powell, Matt Rourke, Sarah Silbiger, Alyssa Powell, CME's, aren't, Powell, Erin Schaff, Paul Krugman, Donald Trump's, Krugman, Trump, Marko Kolanovic, Rebecca Zisser, Instagram, Changpeng Zhao, Binance, Amazon, Emma Tucker's, Steve Bannon, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, George Glover Organizations: Business, Service, Stagecoach, Trump, Tech, Investors, Bloomberg, Getty, The New York Times, Hunterbrook, JPMorgan, Adobe, Wall Street Journal, Staff, eBay, Pfizer, Google Locations: stagflation, New York, London
Even better, management signaled that the chemical company is moving past most of the destocking headwinds that plagued it this year. Net sales declined roughly 3% year over year to $2.9 billion, beating expectations of $2.8 billion, according to LSEG. Quarterly results Organic sales in the Electronics & Industrial business declined 2% year over year, with volume and prices both down 1%. And in Shelter Solutions, the destock looks complete after sales were flat in the first quarter and expected to rise sequentially in the second quarter. This new outlook reflects a continued electronics recovery and some easing of channel inventory destocking in industrial-based businesses.
Persons: we're, Ed Breen, Breen, Jim Cramer's, Jim Cramer, Jim, Dupont, Mark Makela Organizations: DuPont, PPG Industries, Industrial Technologies, Automotive, Electronics & Industrial, Semiconductor Technologies, DuPont's, Taiwan Semi, Samsung, Safety Solutions, Water Solutions, Solutions, CNBC, Getty Locations: bottoming, Taiwan, biopharma, Kalrez
Ascentxmedia | E+ | Getty ImagesMany people claim Social Security retirement benefits at the earliest possible claiming age of 62. Yet recent research finds working with a financial professional does not necessarily encourage individuals to claim Social Security at later ages. Why it pays to wait to claim Social SecurityWhen Social Security retirement beneficiaries claim at age 62, their benefits are permanently reduced. As the Social Security full retirement age moves to age 67, benefits available at age 62 are even further reduced. Delaying Social Security benefits is so valuable not only because of the increase to benefits, but also the annual cost-of-living adjustments tied to inflation.
Persons: David Blanchett, Jason Fichtner, Center —, " Blanchett, Fichtner, Joe Elsasser, Elsasser, they've, Blanchett Organizations: Getty, Social, Social Security, DC Solutions, Center
Bank of America boosted Amazon's price target after earnings to $210, eyeing 17% upside from Wednesday's price levels. Amazon's Q2 guidance slightly fell short of Wall Street's expectations, but Bofa still sees upside ahead. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. AdvertisementAmazon stock could soar as its latest earnings herald a "new era" of profits for the tech behemoth, according to Bank of America. On the guidance front, Amazon expects Q2 net sales to range between $144.0 billion and $149.0 billion, 2.5% below the estimated $150.21 billion.
Persons: Bofa, , Justin Post, BofA Organizations: of America, Service, Bank of America . Bank of America, Amazon
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