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☆ Apple wants to give the iPad a boost
▼ + stars: | 2024-05-07 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +7 min

The tech giant's event will reportedly showcase a new family of… iPads and iPad accessories. But Apple's event , which kicks off at 10 a.m. EST, is looking to give the iPad a boost. iPhone sales have noticeably dipped, which is why you're hearing Apple tout its "services" business , writes BI's Peter Kafka. And the new product Apple wants you to be excited about — the Vision Pro — hasn't lived up to the hype. a16z joins the Big Tech "fake work" debate.

Persons: —, Tyler Le, they're, iPads, Antonio Villas, Boas, BI's Peter Kafka, Peter, hasn't, Katie Notopoulos, Wall, Lauren DeCicca, Tim Cook, Katie, aren't, I'd, we'll, I'm, Alyssa Powell, Danielle DiMartino Booth, James Devaney, Roger Kisby, Jack Dorsey's, Elon, Dorsey, Elon Musk, Satya Nadella, OpenAI, Jeff Bezos, Mark Zuckerberg, Warren Buffett, Berkshire Hathaway, a16z, Emily Sundberg, Andreessen Horowitz, David Ulevitch, Vladimir Putin, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, George Glover Organizations: Service, Business, Apple, Google, Getty, US Treasury, National Bureau of Economic Research, Images, Penske Media, Microsoft, Tech, Paramount, Berkshire, Big Tech, Walt Disney Company Locations: BREIT, New York, London

☆ The stock rally is masking stagflation risk raised by the latest GDP report, JPMorgan says
▼ + stars: | 2024-04-30 | by ( Yuheng Zhan | ) www.businessinsider.com time to read: +3 min

JPMorgan says the recent stock rebound driven by robust earnings masks looming stagflationary risks. The soft landing narrative is challenged by the first-quarter GDP report. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementThe recent rally in the stock market, bolstered by a wave of upbeat earnings, is glossing over a host of risks raised by the latest economic data points, JPMorgan said this week. Jamie Dimon and other experts are sounding the alarm, saying the US might be headed for a 1970s-style scenario, complete with a stock market crash.

Persons: —, JPMorgan's Marko Kolanovic, Kolanovic, hasn't, Jamie Dimon Organizations: JPMorgan, Service, Microsoft

☆ Crypto investors are bracing for a busy quarter with the Bitcoin halving, ether ETF updates and potential rate cuts
▼ + stars: | 2024-03-30 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +6 min

The most important driver in second quarter for bitcoin and crypto, however, could be the Federal Reserve decision on interest rate cuts. Traders are now pricing in a roughly 61% chance of a first Fed rate cut taking place in June, according to the CME FedWatch Tool . Demand has increased from 40,000 bitcoin at the start of the year to 213,000 bitcoin currently, largely driven by ETF buying ahead of the late April Bitcoin halving, according to CryptoQuant. However, the SEC's decision on whether or not to allow spot ether ETFs to trade, due in May, will "very likely" be market moving, he added. "If it's not priced in today, then it very likely will be a market moving event if it happens," he said.

Persons: Bitcoin, Zach Pandl, Pandl, –, bitcoin, Julio Moreno, Chris Kuiper, — CNBC's Ganesh Rao Organizations: Securities and Exchange Commission, Federal, Metrics, Fidelity Digital Assets, CNBC, Fidelity, SEC Locations: U.S, BlackRock

☆ How Hermès became the ultimate status symbol
▼ + stars: | 2024-02-24 | by ( Madeline Berg | ) www.businessinsider.com time to read: +11 min

A cashmere throw blanket splashed with the letter H. For years, Hermès' iconic products have been coveted by those in the know. Now, its shares are also hot commodities, with their performance outpacing bigger luxury brands like Louis Vuitton owner LVMH and Gucci-maker Kering. "Brand equity is much more diluted than Hermès'," Herzog said of brands like Gucci and Louis Vuitton. Hermès is 'fairly recession-proof'Keeping it simple has helped Hermès hold its own as luxury brands start to lose their shine after a multiyear spending boom. It also announced it will expand the Saint Junien facility in New Aquitaine (also France) which makes Kelly and Birkin bags.

Persons: Hermès, Louis Vuitton, LVMH, Kering's, hasn't, it's, Axel Dumas, Simeon Siegel, Siegel, Birkin, —, waitlists, Edward Berthelot, there's, Hitha Herzog, Nicole Pollard Bayme, Kelly, Versace, Herzog, Gucci, Saint Laurent, Bernstein, Luca Solca, Chanel, Solca, Winston Chesterfield, Barton, That's, Williamsburg , Brooklyn —, Axel, Pierre, Alexis Dumas —, Bernard Arnault's LVMH, Dumas, Barton's Chesterfield, They've, Cousins Axel Dumas, Alexis Dumas, Rodrigo Vaz, Thierry Hermès, they've, We're Organizations: BMO Capital Markets, Capri Holdings, North, Gucci Locations: Hermès, London, China, France, Louviers, Ardennes, New Aquitaine, Aspen , Colorado, Naples, Florida, Nanjing, Princeton , New Jersey, Williamsburg , Brooklyn

☆ How Hermes Became the Ultimate Status Symbol
▼ + stars: | 2024-02-24 | by ( Madeline Berg | ) www.businessinsider.com time to read: +11 min

Now, its shares are also hot commodities, with their performance outpacing bigger luxury brands like Louis Vuitton owner LVMH and Gucci-maker Kering. "The curse of retail is everyone chases more," Simeon Siegel, a senior retail analyst at BMO Capital Markets, told Business Insider about luxury brands. "Brand equity is much more diluted than Hermès'," Herzog said of brands like Gucci and Louis Vuitton. Hermès is 'fairly recession-proof'Keeping it simple has helped Hermès hold its own as luxury brands start to lose their shine after a multiyear spending boom. It also announced it will expand the Saint Junien facility in New Aquitaine (also France) which makes Kelly and Birkin bags.

☆ Kayne West's sampling of icons like Donna Summer and Ozzy Osbourne is a 'clear-cut' case of copyright infringement, legal experts say
▼ + stars: | 2024-02-18 | by ( Hannah Getahun | Katherine Tangalakis-Lippert | ) www.businessinsider.com time to read: +8 min

Though Ozzy Osbourne left Black Sabbath in 1979, his wife, Sharon Osbourne, told Billboard any songs the band wrote — Osbourne, Tony Iommi, Geezer Butler, and Bill Ward — require the approval of all four members to license. Regardless of the social media feud, legal experts say if true, the unauthorized use of the samples would be a “clear-cut” case of copyright infringement. He didn't dispute it,” entertainment attorney Donald M. Woodard of Carter and Woodard told Business Insider. AdvertisementOsbourne's recent objection to West's sample would be considered a new copyright claim, as the license for use does not permit West to sample the song in perpetuity. In 2022, Chicago artist Marshall Jefferson accused the rapper of using his song “Move Your Body” in the West song “Flowers” without permission.

Persons: —, Ty Dolla, West —, Ye —, Ozzy Osbourne, Donna Summer, West …, Donna Summer's, …, Osbourne, West swiped, Ye, Kanye, Hitler West, he'd, Instagram, Alex Jones, Hitler, Sharon Osbourne, — Osbourne, Tony Iommi, Geezer Butler, Bill Ward —, Rolling Stone, FUGA, Tyrone William Griffin Jr, — hasn't, Sharon, Bianca Censori —, Ozzy, who's, I've, Donald M, Woodard of Carter, Woodard, West, ” Woodard, “, Robert Freund, Freund, Marshall Jefferson, Griffin Organizations: Service, ign, Business, Billboard, West, iTunes, Apple Music, FUGA, Spotify, Amazon Music, Daily Mail, Kanye Locations: Chicago

☆ Trump claimed his E. Jean Carroll defamations were the best thing that ever happened to her. Here's how the grotesque tactic met its end.
▼ + stars: | 2024-01-28 | by ( Laura Italiano | ) www.businessinsider.com time to read: +11 min

AdvertisementE. Jean Carroll surrounded by her defense team after winning an $83 million defamation verdict against Donald Trump. That's because "such benefits are irrelevant as a matter of law," Carroll attorney Joshua Matz wrote to Judge Kaplan. Donald Trump attends the E. Jean Carroll defamation trial in New York with attorney Alina Habba. Carroll attorney Joshua Matz thought not. In her closing arguments, Habba, Trump's lead attorney, argued that Carroll "is a woman who was exuberant and enjoying newfound attention."

Persons: —, Donald Trump, Jean Carroll, — hasn't, Carroll, Brendan McDermid, Kathy Griffin, Alina Habba, Habba, Alyssa Milano, Jamie Lee Curtis, Rob Reiner, she'd, I've, Lewis Kaplan, Trump, Kaplan, deducting, Freeman, Giuliani, Rudy Giuliani, — Ruby Freeman, Wandrea, Moss —, Joshua Matz, Judge Kaplan, Gross, Jane Rosenberg, Michael Madaio, Madaio, Lewis Kaplan Jane Rosenberg, Matz, " Matz, he'd, There'd, Seth Wenig, Roberta Kaplan —, Donald Trump's, she's, Trump's, Jean Carroll's, Carroll's, Shawn Crowley Organizations: Service, Business, Carroll, US, Trump, Trump haters, Reuters Locations: Florida, York, Manhattan, Georgia, New York, United States

☆ Trump has laid the groundwork for a US Supreme Court challenge in his NY civil fraud case: experts
▼ + stars: | 2024-01-13 | by ( Laura Italiano | ) www.businessinsider.com time to read: +11 min

On their way to the US Supreme Court, Trump's lawyers would first need to exhaust their New York state appellate options. AdvertisementNew York Supreme Court Justice Arthur Engoron presided over closing arguments in the Trump civil fraud trial. Shannon Stapleton/ReutersThrowing the case to the US Supreme Court could, at the least, delay the imposition of penalties, Scholl said. It's unlikely the US Supreme Court would throw out New York's executive law in its entirety, he predicted. But the court could quite possibly pare back, at least in Trump's case, its most severe penalties.

Persons: —, Donald Trump, Letitia James's, Trump, Shannon Stapleton, SCOTUS, Marc Frazier Scholl, Trump's, Scholl, Lewis Baach Kaufmann Middlemiss, Jane Rosenberg, it's, James, Arthur Engoron, pare, Letitia James, Christopher Kise, Donald Trump's, Kise, Alina Habba, Clifford Robert . Pool, Adam S, Kaufmann, There's, President Trump Organizations: Service, York, New York, Trump, Business, Court, Reuters, Manhattan, Attorney's, New, Appeals, Trump Organization, US, Fifth Locations: Manhattan, New York, York, Florida

☆ Saba Capital's 2023 woes continue. Two of its funds are down more than 10% this year.
▼ + stars: | 2023-11-17 | by ( Bradley Saacks | ) www.businessinsider.com time to read: +1 min

The two biggest funds at Boaz Weinstein's Saba Capital are down by more than 10% this year. According to HSBC's weekly report, the flagship fund has lost close to 12%. Weinstein came into 2023 bearish about the economy, which has been resilient despite rising rates. Saba Capital — the $4.8 billion hedge fund manager run by Boaz Weinstein — hasn't had the best year. Two of its funds — the flagship and a more hedged version — are down 11.9% and 10.6%, respectively, through November 10, according to the latest edition of HSBC's Hedge Weekly.

Persons: Boaz Weinstein's, Weinstein, Boaz Weinstein — hasn't, — Organizations: Saba, HSBC's, Financial Times, Federal Reserve, Business Locations: Boaz Weinstein's Saba, Saba Capital, New York

☆ This highly profitable industry is booming as the population ages
▼ + stars: | 2023-10-15 | by ( Michelle Fox | ) www.cnbc.com time to read: +10 min

Enteral nutrition is administered through a feeding tube or it can be taken orally. Fresenius owns 32% of Fresenius Medical Center, which saw shares drop on recent news that Ozempic's kidney disease treatment trial showed signs of success. Clinical nutrition is about 20% of group profits and an important subset of its larger specialized nutrition unit, Ackerman said. "Many investors only focus only on their infant formula unit and don't know how big or how profitable clinical nutrition is," he said. "Clinical nutrition is the jewel in Danone's crown and probably the most attractive part of Danone's portfolio, yet is hidden from investors."

Persons: Stefano Natella, — hasn't, Hassan Al, Wakeel, Warren Ackerman, Ackerman, Lindsay Clarke, Enteral, Danone's Nutrison, —, Baxter, Abbott, Sara Hennicken, Fresenius, Nestlé, Mark Schneider, Nestle, — CNBC's Michael Bloom Organizations: Guggenheim, World Health Organization, WHO, Barclays, Danone, Fresenius, Al, Alliance for Aging Research, Aging, CNBC, Nestle, Companies, — Nestle, Nutrition, Fresenius Medical Locations: German, Paris, China, Swiss, United States, parenteral, Latin America

☆ This 'stealthy' AI play is setting up for upside, says chart analyst
▼ + stars: | 2023-09-06 | by ( Pia Singh | ) www.cnbc.com time to read: +1 min

The stock is a "stealthy way to think about AI," Johnson said. The company also said it plans to double its AI talent to 80,000 employees through hiring, acquisitions and training. Johnson also mentioned oilfield services company Baker Hughes and engineering and construction firm Fluor as stocks with potential upside. While the chart analyst said he is not convinced that the energy sector overall isn't "really ready to work," he sees Baker Hughes getting back to its March 2022 highs. BKR 1Y mountain Baker Hughes stock.

Persons: Piper Sandler, Craig Johnson, hasn't, Johnson, Baker Hughes Organizations: Accenture, Accenture —, Baker, & ' $ Locations: Wednesday's, . Texas, U.S

☆ A 33-year-old who built up a 6-figure net worth through 'lazy investing' says even though 2022 was a 'a decidedly bad year for investors,' he didn't change his investment strategy. Here's what his por
▼ + stars: | 2023-08-20 | by ( Kathleen Elkins | ) www.businessinsider.com time to read: +5 min

After paying off $42,000 worth of debt, he got serious about investing and built up a six-figure net worth through "lazy investing" while saving for his first home simultaneously. He reacted to the 2022 downturn similarly to how he did when the stock market crashed in 2020: apathetically. These are Vanguard, Fidelity, and Schwab's total stock market index funds. Another component of the lazy investing strategy is periodic rebalancing. It probably shouldn't be any more than four times a year because then the 'lazy investing' turns a bit too hands on."

Persons: Jesse Cramer, Berkshire Hathaway, Cramer, haven't, I'm, hasn't, they're, Cramer rebalances, it's, Berkshire Hathaway Cramer doesn't, Warren Buffett, Charlie Munger, Hathaway, I'd Organizations: Berkshire, Vanguard, Fidelity Locations: Berkshire

☆ First there was quiet quitting. Now it's become grumpy staying.
▼ + stars: | 2023-06-28 | by ( Juliana Kaplan | ) www.businessinsider.com time to read: +4 min

Quiet quitting is getting louder as more unhappy workers are staying put. Welcome to grumpy staying, in which workers begrudgingly skate by in a tightening job market. Gallup's 2023 State of the Global Workplace report, which surveyed 122,416 workers across the world, found that 59% of employees are quiet quitting — and 18% are "loud quitting." Welcome to "grumpy staying," where workers don't have the leverage to quit, and some aren't too pleased about staying. Are you grumpy staying at your job?

Persons: —, Insider's Ashley Stewart, Stewart, Nela Richardson, hasn't Organizations: Service, Privacy, Workers, Microsoft, Gallup, ADP Locations: Salesforce

☆ LeBron James' SpringHill is circling Complex Networks as owner BuzzFeed struggles to regroup after layoffs and a stock price plunge
▼ + stars: | 2023-05-04 | by ( Lucia Moses | ) www.businessinsider.com time to read: +4 min

LeBron James and Maverick Carter's SpringHill has had conversations about buying BuzzFeed's Complex Networks, sources said. SpringHill Co., LeBron James and Maverick Carter's media and entertainment venture, has explored buying troubled BuzzFeed's Complex Networks, two sources familiar with the situation said. In addition to Complex Networks, BuzzFeed has HuffPost; food vertical Tasty, which includes licensed cooking products; as well as video series like travel-themed "Bring Me." Complex built long-form, host-driven video series like "Hot Ones" and "Sneaker Shopping" into high-profile brands in their own right. SpringHill Co. is a rollup including SpringHill Entertainment, which Carter founded with LeBron James, his childhood friend.

As earnings season continues, Wall Street analysts are raising their outlook for certain names set to report earnings next week. Against this backdrop, CNBC Pro used FactSet data to screen for companies reporting next week that analysts have been getting more bullish on. Overall, analyst earnings estimates for Incyte are up 48% over the past three months and nearly 13% over the past six months. On average, analysts have hiked their earnings per share estimates on the company by 46% over the past six months and 27% in the past three months. The cloud software company's earnings estimates have gone up 32% over the past six months.

☆ Bank stocks remain out of favor. Here's why we're sticking with our 2
▼ + stars: | 2023-04-04 | by ( Kevin Stankiewicz | ) www.cnbc.com time to read: +4 min

Wells Fargo is a multiyear turnaround story, encompassing cost-cutting strategies to please investors and improvements to risk-management operations to satisfy both regulators and investors. Both stocks were firmly in the red Tuesday, with Wells Fargo sinking below $37 per share and Morgan Stanley below $85 per share. In the short run, that decreases the likelihood that shares of Wells Fargo and Morgan Stanley will rip higher. That's especially true for Wells Fargo, knowing that CEO Charlie Scharf can execute additional restructurings to reduce expenses. The logo of Morgan Stanley is seen in New York Shannon Stapleton | Reuters

☆ A $200 Russian smartphone aiming to replace the iPhone isn't getting much love — fewer than 1,000 units have been sold since its debut
▼ + stars: | 2023-04-04 | by ( Huileng Tan | ) www.businessinsider.com time to read: +3 min

Russia's AYYA T1 smartphone has sold just 905 units since its October 2021 launch, per Vedomosti. Russia's smartphone market is dominated by Chinese brands, with Xiaomi in the lead, per Statista. The AYYA T1 smartphone — touted as a homegrown alternative to the iPhone — hasn't been very popular. That's about 18% of the 5,000 AYYA T1 smartphones produced for the Russian market so far, per Vedomosti. Russian officials touted the AYYA T1 as a potential alternative to Apple's iPhone, the Moscow Times reported on March 23.

☆ Freshman Rep. Andy Ogles once raised $23,000 to create a burial garden for stillborn babies with a 'life-size statue of Jesus.' It was never built.
▼ + stars: | 2023-03-16 | by ( Grace Eliza Goodwin | ) www.businessinsider.com time to read: +2 min

Andy Ogles once raised more than $23,000 to create a burial garden for stillborn babies. The Republican lawmaker says he didn't raise enough to build the garden, so he donated it to families in need, but didn't offer proof. Ogles embellished details of his resume before he was elected, Insider reported. But, the garden was never built and Ogles — now a freshman GOP congressman — hasn't offered proof of where the money went, according to multiple reports. The fundraiser said the burial garden would feature benches, flowers, and a "life-size statue of Jesus watching over the children."

☆ Lithuania's prime minister says Ukrainians should get all the weapons they want because they are dying for Europe's safety: 'We're just losing some money'
▼ + stars: | 2023-02-24 | by ( Sinéad Baker | ) www.businessinsider.com time to read: +4 min

Ukrainians are dying to help protect European security, Lithuania's prime minister told Insider. That's why Ukraine should get the weapons it needs, including offensive weapons, she said. I say we are losing, [but] I think we are investing in a way, investing into our security," she said. Lithuania was sending Ukraine weapons even before Russia's invasion began last February, at a time when Ukraine was fighting Russian-backed separatists in its east. "It's sort of a cliche to say that Ukrainians are fighting this war for all of us," she added.

☆ We could be the last humans to see the green comet passing Earth for the first time since the Ice Age. Here's how, where, and when to watch it.
▼ + stars: | 2023-01-28 | by ( Morgan Mcfall-Johnsen | Kenneth Niemeyer | ) www.businessinsider.com time to read: +6 min

Astronomers recently discovered a green comet approaching Earth for the first time in 50,000 years. Here's how, where, and when to see Comet ZTF as it passes Earth in late January and early February. When to see the green cometYou may need a small telescope to spot Comet ZTF, but binoculars could be enough. Amateur astronomers have already begun photographing the green comet to show what you could see. Where to look in the night sky for comet ZTFLook to the right stars to see the green comet.

☆ Autism, ADHD, and other neuro types can be an asset in the workplace — and companies are finally doing the work to recruit and retain neurodivergent staff
▼ + stars: | 2023-01-19 | by ( Korie Wilkins | ) www.businessinsider.com time to read: +8 min

Some companies, such as P&G, have introduced programs to recruit and retain neurodivergent candidates. Lakes' experience is not uncommon among neurodivergent individuals, which is a term that represents people with neurological types like autism, dyslexia, or ADHD. Workplace culture is beginning to shiftThere's some change on the horizon. "Right now, organizations are doing the groundwork," Lyric Rivera, who identifies as neurodivergent, told Insider. Company culture can support neurodivergent employeesWhile many companies offer programs to support existing neurodivergent employees, advocates like Rivera say the next step is to get more neurodivergent candidates in the door.

☆ Now's the best time to see the green comet passing Earth for the first time since the Ice Age. Here's how, where, and when to see it.
▼ + stars: | 2023-01-18 | by ( Morgan Mcfall-Johnsen | Kenneth Niemeyer | ) www.businessinsider.com time to read: +5 min

Astronomers recently discovered a green comet approaching Earth for the first time in 50,000 years. Comet ZTF may never return, so we could be the last humans to see it. C/2022 E3 (ZTF), or Comet ZTF for short — the name astronomers gave this space snowball after the Zwicky Transient Facility discovered it in March — hasn't been in our cosmic neighborhood since the last Ice Age. When to see the green cometYou may need a small telescope to spot Comet ZTF, but binoculars could be enough. Where to look in the night sky for comet ZTFLook to the right stars to see the green comet.

☆ JPMorgan's acquisition strategy is coming under fire. Here are the 15 fintech and consumer-focused deals done by the bank since 2020.
▼ + stars: | 2023-01-13 | by ( Carter Johnson | Rebecca Ungarino | ) www.businessinsider.com time to read: +19 min

NutmegDeal details: JPMorgan announced the acquisition in June 2021, paying approximately $1 billion. cxLoyaltyDeal details: JPMorgan said it would buy cxLoyalty's global loyalty division in December 2020. ProxymityDeal details: JPMorgan, Citi, HSBC, and other firms together invested $20.5 million in Proxymity in May 2020. Viva WalletDeal details: JPMorgan said it would acquire 49% of Viva Wallet in January 2022, pending regulatory approval. Christian Petersen-Clausen/Getty ImagesRenovite TechnologiesDeal details: JPMorgan announced on September 12 it plans to acquire Renovite.

☆ How much TikTok pays employees, according to salary data
▼ + stars: | 2022-12-28 | by ( Ashley Rodriguez | Dan Whateley | ) www.businessinsider.com time to read: +3 min

Insider combed through public data to get a snapshot of how much TikTok pays US employees. TikTok and owner ByteDance has offered base salaries between $29 an hour and $438,000 a year. Insider updated its analysis of how much TikTok employees make in the US, based on 1,135 US work-visa applications with salary data for more than 500 different jobs. The data includes base salaries only, not forms of compensation such as stock options or cash bonuses. It shows, for example, that TikTok offers $100,000 per year or more for certain content-operations roles, and that ByteDance offers as much as $200,000 per year for software engineers for its AR-effects platform.

☆ TikTok salaries revealed: How much the company pays for key US jobs in engineering, product, data science, and more
▼ + stars: | 2022-12-27 | by ( Ashley Rodriguez | Dan Whateley | ) www.businessinsider.com time to read: +9 min

Insider analyzed US work-visa data to gauge salary levels at TikTok and parent company ByteDance. The data show TikTok and ByteDance offered staffers on US work visas $29 an hour to $438,000 a year. The public data show how much the company offered to pay foreign staffers it sought to hire in the US for jobs including product, engineering, and data-science roles. Based on the data, TikTok and ByteDance offered from late 2020 to late 2022 base salaries ranging from $29 per hour to $438,000 per year for various roles. We listed examples of salaries in each division below, followed by a complete list of the jobs included in the data.

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