DIRS.INFO The most relevant business & tech news

☆ Nvidia challenger Groq is set to double its valuation to $2.5 billion in fresh funding round led by Blackrock
▼ + stars: | 2024-06-26 | by ( Ben Bergman | ) www.businessinsider.com time to read: +1 min

It is set to be valued at $2.5 billion in a funding round led by Blackrock, according to sources. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementGroq, a scrappy challenger to Nvidia that is developing chips powering artificial intelligence, is set to be valued at $2.5 billion in a new funding round led by Blackrock, according to multiple sources. Groq has been rumored to be raising a new round and recently hired Morgan Stanley to help raise $300 million in new funding, the Information previously reported last month. The valuation and lead investor have not been previously reported.

Persons: Groq, —, Morgan Stanley Organizations: Blackrock, Service, Nvidia

☆ Activist Starboard Value demands Autodesk explain accounting, financial issues
▼ + stars: | 2024-06-25 | by ( Rohan Goswami | In Rohangoswamicnbc | ) www.cnbc.com time to read: +3 min

Activist investor Starboard Value on Tuesday sent a letter to Autodesk's board, demanding that the company explain to shareholders who and what was behind an internal financial probe that sparked federal investigations and revealed deliberate misrepresentation of key financial metrics. The activist investor wrote in its letter that there had been "no consequences and no accountability for those involved in this purposeful misleading of shareholders." A representative for Autodesk did not immediately return a request for comment. The internal probe led to the reassignment of its chief financial officer and prompted inquiries from financial regulators and the Justice Department. The activist wrote that it had received "overwhelmingly positive feedback" from other investors frustrated with Autodesk's perceived "poor corporate governance."

Persons: Jeff Smith, Smith, Debbie Clifford Organizations: Autodesk, Justice Department, Company Locations: Delaware

☆ Outrage over an $18 Big Mac sparked a consumer revolt that finally got companies to listen
▼ + stars: | 2024-06-25 | by ( Elisabeth Buchwald | ) edition.cnn.com time to read: +4 min

New CNN —Pop quiz: How much does a Big Mac, fries and a fountain beverage – also known as a Big Mac combo meal – cost? In a recent letter, Joe Erlinger, president of McDonald’s USA, said $18 for a Big Mac combo was the “exception” and not the norm across all 13,700 restaurants in the country. The thing is: It doesn’t really matter that virtually no one is paying anything close to $18 for a Big Mac combo. “The average price of a Big Mac in the US was $4.39 in 2019,” Erlinger said in his recent letter. Behold: Price cuts and value menusI’d be willing to bet Erlinger was made aware of the viral $18 Big Mac combo post not long after it took off.

Persons: It’s, Joe Erlinger, Erlinger, it’s, They’re, ” Erlinger, aren’t, haven’t, Price, Christopher Kempczinski, they’ve, Ian Borden, they’re Organizations: CNN, McDonald’s, Mac, Consumer, Walgreens, Walmart, Wendy’s Locations: Connecticut, McDonald’s USA, Amazon

☆ Federal judge rejects $30 billion settlement between Visa, Mastercard and retailers
▼ + stars: | 2024-06-25 | by ( Elisabeth Buchwald | Parija Kavilanz | ) edition.cnn.com time to read: +3 min

New York CNN —A federal judge overseeing a $30 billion preliminary swipe-fees settlement between Mastercard, Visa and retailers formally rejected the deal Tuesday. Mastercard and Visa, two of the world’s largest credit card networks, reached their proposed multi-billion antitrust settlement with US merchants in March. But a memo released by the court on Tuesday said that she was “not likely to grant final approval” to the preliminary settlement absent any changes. The proposed settlement would have lowered those fees by at least 0.04% percentage points for a minimum of three years. What the preliminary settlement entailedThe proposed settlement, which hinged on final approval from the Eastern District of New York, resulted from a longstanding antitrust class-action lawsuit in 2005.

Persons: Judge Margo Brodie, “, colluded, —, Christopher Jones, ”, ” Jones, Tuesday’s, Judge Brodie, RILA Organizations: New, New York CNN, Mastercard, Visa, Court, of, Merchants Payments Coalition, Main, Retail Industry, Association, Target, Dollar Locations: New York, Eastern, of New York

☆ An SAP employee reported a workplace sexual assault. Now she's breaking her NDA.
▼ + stars: | 2024-06-25 | by ( Matt Drange | ) www.businessinsider.com time to read: +15 min

"It was harder than the initial assault," Kostial said of being stalked. The Aetna NDA only silenced her about the terms of her settlement, not the sexual assault. Kostial has discussed her situation with Vincent White, a New York city-based lawyer who specializes in workplace NDAs and advises signatories on the risks associated with breaking them. Kostial is fearful that if they wed, her wife's finances could be affected if either SAP or Aetna pursues her for breaking her NDA. AdvertisementWhenever she's seized by anxiety, Kostial reminds herself of how hard she's fought to move past the sexual assault and why she's coming forward.

Persons: —, Ashley Kostial, she'd, She'd, Kostial, abrasions, Aetna, Brad Schleier, Schleier, hadn't, NDAs, Taylor Glascock, Kira, She's, Nina Wasow, Jodi Short, Evan Starr, Morton , Illinois Taylor Glascock, galling, Vincent White, White, Zelda Perkins, Harvey Weinstein's, Julie Macfarlane, she's, Hey Ashley —, he'd Organizations: Service, SAP, Marriott, Business, Ariba, Aetna, Aetna NDA, BI, University of California College of the, San, National Labor Relations Board, University of, Plano Police Department Locations: Plano , Texas, Plano, Phoenix, spokespeople, Aetna, Berkeley , California, California, New York, New, Maryland , New Jersey, New Mexico, But Arizona, San Francisco, NDAs, Morton ,, Oakland, Texas, Arizona, Illinois

☆ Protests Driven by Younger People Aim to Push Kenya to Scrap Tax Rises
▼ + stars: | 2024-06-25 | by ( Abdi Latif Dahir | ) www.nytimes.com time to read: +1 min

Before Tuesday’s demonstration, several activists who are prominent critics of the bill were abducted, according to the Law Society of Kenya. The abductors’ identities were not publicly known, but some were believed to be intelligence officers, said the Law Society’s president, Faith Odhiambo. Lawmakers in Parliament are set to debate and vote on proposed amendments to the bill on Tuesday. President William Ruto’s governing alliance has enough votes to pass it, although opposition leaders have rejected the measure in its totality. Once the bill has parliamentary approval, Mr. Ruto can sign it into law or send it back for amendments.

Persons: Faith Odhiambo, William Ruto’s, Ruto Organizations: Amnesty International, Law Society of Kenya Locations: Kenya, East

☆ Citi Wealth's horrible tech is infuriating clients and employees and endangering its turnaround
▼ + stars: | 2024-06-25 | by ( Hayley Cuccinello | ) www.businessinsider.com time to read: +11 min

But even clients who get through the door can be reluctant to park more assets with Citi, according to a wealth advisor. To understand the extent of Citi Wealth's tech woes and the stakes, Business Insider spoke with 14 current and former employees. Andy Sieg took over Citi Wealth in September after leaving Merrill Wealth Management. Citi Wealth clients are losing their patienceCiti receives 27,000 monthly complaints from wealth customers, according to the audit. Getting bank statements emailed is difficult for Citi private bank clients when it's a matter of checking a box at other major banks.

Persons: —, Andy Sieg, Roth, Ernst & Young, EY, Merrill Lynch, Sieg, Morgan Stanley, Kris, Wells, Mike Mayo, Jane Fraser, Shadman Zafar, Alois Pirker Organizations: Service, Revlon, Citi, Business, Ernst, Citi Wealth, Merrill Wealth Management, Morgan, Citigroup, Apple, Microsoft, Bankers, Employees, Work, Fidelity, Advisors

☆ Athing Mu’s hopes of defending her Olympic 800m title end after falling at the US trials
▼ + stars: | 2024-06-25 | by ( George Ramsay | ) edition.cnn.com time to read: +3 min

CNN —Athing Mu’s hopes of defending her 800-meter title at the Paris Olympics ended in heartbreaking fashion on Monday as she fell to the floor at the US track and field trials. The trio of Nia Atkins, who won in a time of 1:57.36, Allie Wilson, and Juliette Whittaker completed the podium to make the Olympic team. Mu’s fall underlined the sometimes brutal nature of the US Olympic trials, which dictate that only the top three finishers will make the team for an individual event, regardless of an athlete’s pedigree and past results. Despite her lack of races due to a lingering hamstring issue, Mu appeared in good shape at the trials, winning her semifinal in a time of 1:58.84. “I don’t know if my season’s over yet,” Wilson told reporters on Monday.

Persons: Athing Mu’s, Mu, Nia Atkins, Allie Wilson, Juliette Whittaker, “ I’ve, I’ve, ”, Bobby Kersee, ” Mu, Kirby Lee, Kersee, hadn’t, “, Rai Benjamin, that’s, Quincy Wilson, Wilson, Quincy Hall’s, Michael Norman, Chris Bailey, ” Wilson Organizations: CNN, Paris Olympics, Olympic, Associated Press, USA, AP, Eugene’s Hayward, US Olympic, Paris, Tokyo Games, NBC, Quincy, Bullis

☆ Saudi Arabia may be forced to reassess megaprojects like Neom
▼ + stars: | 2024-06-25 | by ( Beatrice Nolan | ) www.businessinsider.com time to read: +3 min

The Kingdom's Vision 2030 plans feature several massive construction projects, including the futuristic megacity Neom and an entertainment project on the outskirts of Riyadh. Amine Mati, an assistant director at the IMF and its mission chief for Saudi Arabia, told The FT that Saudi authorities were "recalibrating" to assess whether some spending should be delayed. In public, Saudi has largely been keen to insist that the megaprojects, especially Neom, are on track. Experts previously told BI that Saudi Arabia was struggling to attract the foreign investment needed for the development. Representatives for Neom did not immediately respond to a request for comment from Business Insider, made outside normal working hours.

Persons: —, Mohammed Al, Jadaan, Prince Mohammed bin Salman, Neom Organizations: Service, Business, BBC, Saudi, IMF, FT, Public Investment Fund, CNBC Locations: Saudi Arabia, Riyadh

☆ Microsoft faces mega fine after EU takes issue with bundling of Teams and Office
▼ + stars: | 2024-06-25 | by ( Hanna Ziady | Brian Fung | ) edition.cnn.com time to read: +2 min

London CNN —Microsoft has violated European Union antitrust laws by bundling Teams with its other popular applications for businesses, EU officials said Tuesday, marking the bloc’s latest challenge to a US tech giant. If confirmed, the preliminary findings of an EU investigation could lead to a fine of up to 10% of Microsoft’s global revenue, which totaled $211 billion in its latest financial year. Apple, which has denied wrongdoing, also faces a huge fine if the charges are confirmed. “Preserving competition for remote communication and collaboration tools is essential as it also fosters innovation on these markets. If confirmed, Microsoft’s conduct would be illegal under our competition rules,” she added.

Persons: Apple, Slack, Margrethe Vestager Organizations: London CNN, Microsoft, Digital Markets, Apple, European Commission, Salesforce, CNN

☆ Gen Z's Most Trusted Source for News: Online Comments Sections
▼ + stars: | 2024-06-25 | by ( Adam Rogers | ) www.businessinsider.com time to read: +12 min

Gen Zers, it turns out, are "not on a linear journey to evaluate the veracity of anything." In other words, Gen Zers know the difference between rock-solid news and AI-generated memes. For Gen Z, checking what other people are saying in the comments isn't shallow. The aim is to reach Gen Z readers where they live — scrolling through the comments — and turn them into subscribers. But I'll confess that I worried about the idea that Gen Z checks the comments to decide what to believe.

Persons: Z, Gen, Yasmin Green, Gen Zers, they're, Zers, Jigsaw, it's, they've, bros, influencers, Beth Goldberg, Jigsaw's, It's, Goldberg, Donald Trump, Trump, Z's, Ukraine —, They're, David Rothschild, I'm, ruefully, Adam Rogers Organizations: Media, Google, CNN, The New York Times, Times, NYPD, Research, Microsoft Research, Pew Research Center, Facebook, Business Locations: New York, Ukraine, Russia

☆ Kenya braced for more anti-tax protests as citizens call for ‘total shutdown’
▼ + stars: | 2024-06-25 | by ( Larry Madowo | Stephanie Busari | ) edition.cnn.com time to read: +1 min

CNN —Kenya is in the grip of nationwide protests against proposed tax hikes, culminating in a planned “total shutdown” of the country on Tuesday. The demonstrations, sparked by the Finance Bill 2024, have seen citizens rally under the banner of “7 Days of Rage,” as the nation faces more days of upheaval. President William Ruto has said he wants to have dialogue with the protesters and that he is “proud” of them. Amnesty International Kenya says it is investigating the whereabouts of up to 12 people who were “abducted in the middle of night” ahead of Tuesday’s planned protests. The list includes bloggers, content creators, human rights defenders, a doctor, and a parliamentary staffer, Amnesty Kenya executive director Irũngũ Houghton told CNN.

Persons: William Ruto, Tuesday’s, Irũngũ Houghton, Joe Biden, ”, Biden, Ruto Organizations: CNN —, Finance, CNN, Kenyan, NATO, White Locations: CNN — Kenya, Kenya

☆ Tesla recalls Cybertruck to fix faulty windshield wipers, loose trim
▼ + stars: | 2024-06-25 | by ( Lora Kolodny | In Lorakolodny | ) www.cnbc.com time to read: +3 min

One is to fix problems with trim pieces, which can loosen and fall off the trunk, and the other is to address faulty motor controllers in the front windshield wipers. The report said a "non-functioning windshield wiper may reduce visibility in certain operating conditions, which may increase the risk of a collision." Tesla plans to replace the motor controller in the Cybertruck windshield wipers for customers. An earlier Cybertruck recall was issued to repair an accelerator pedal issue. The recall disclosures for the windshield wiper issue said that from Nov. 13, 2023, to Jun.

Persons: Tesla, —, didn't, Elon Musk, Musk, Tesla's, It's Organizations: National, Traffic Safety Administration, Ford, Tesla Locations: U.S, Austin , Texas, China

☆ The former executive assistant to a tech CEO found decapitated in a Manhattan apartment in 2020 has been convicted of murder
▼ + stars: | 2024-06-25 | by ( Zenebou Sylla | ) edition.cnn.com time to read: +3 min

CNN —The former executive assistant of a tech CEO was found guilty Monday of murdering his boss – whom he then decapitated and dismembered – in 2020, according to a news release from the Manhattan District Attorney’s Office. A jury on Monday found Haspil guilty of one count of first-degree murder, two counts of second-degree grand larceny, one count of second-degree burglary and other charges, according to the DA’s office statement. Haspil became Saleh’s assistant in May 2018, where he was tasked with a variety of responsibilities including handling Saleh’s finances – which is how he gained access to Saleh’s financial records, according to the DA’s office release. That fall, Haspil began stealing from Saleh’s companies using two separate schemes, the DA’s office stated. The next day, Haspil returned to the apartment “to dismember the body and clean up the crime scene,” according to the release.

Persons: –, Tyrese Haspil, Fahim Saleh, Haspil, “ Tyrese Haspil, Attorney Alvin Bragg, “, Saleh’s, ”, Sam Roberts, Temilade Adelaja, Saleh Organizations: CNN, Manhattan, Attorney’s Office, Prosecutors, Attorney, ” CNN, Legal Aid Society, New, PayPal, Reuters, Bentley University in Locations: Nigerian, Lagos, Nigeria, Manhattan, Saudi Arabia, New York, Bentley University in Massachusetts

☆ U.S. probing China Telecom, China Mobile over internet and cloud risks, Reuters reports citing sources
▼ + stars: | 2024-06-25 | by ( ) www.cnbc.com time to read: +7 min

Routing through ChinaChina Telecom, China Mobile and China Unicom have long been in Washington's crosshairs. The FCC denied China Mobile's application to provide telephone service in 2019 and revoked China Telecom and China Unicom's licenses to do the same in 2021 and 2022 respectively. It cited at least nine instances where China Telecom misrouted internet traffic through China, putting it at risk of being intercepted, manipulated or blocked from reaching its intended destination. China Telecom has previously denied the government's allegations and told U.S. agencies that routing problems are common and occur on all networks. China Telecom did not respond to requests for comment about its U.S. based PoPs.

Persons: Peter Parks, Biden, China Unicom, Doug Madory, Bill Woodcock, Alibaba Organizations: HK, China Mobile, Peter, AFP, Getty, China Telecom, Authorities, Commerce Department, China, Commerce, Embassy, Reuters, Washington, Regulators, China China Telecom, FCC, U.S, Justice Department, PoPs Locations: China Mobile, China, Beijing, United States, Washington, crosshairs, U.S

☆ Year After Failed Mutiny, Russia Tightens Grip on Wagner Units in Africa
▼ + stars: | 2024-06-25 | by ( Elian Peltier | ) www.nytimes.com time to read: +1 min

For years, Russia covertly propped up authoritarian leaders, exploited natural resources and fought extremists in a number of African countries. Russia worked through the Wagner group, a shadowy web of political advisers, entrepreneurs and mercenaries. Wagner was led by Yevgeny V. Prigozhin, a ruthless tycoon who was once a close ally of President Vladimir V. Putin of Russia. But after Mr. Prigozhin led a short-lived mutiny against Mr. Putin in June last year, Mr. Prigozhin was killed in a plane crash. The Russian Ministry of Defense has taken control of Wagner’s mercenary arm in Africa and placed it under a bigger umbrella group, Africa Corps.

Persons: Wagner, Yevgeny V, Vladimir V, Putin, Prigozhin Organizations: Mr, Russian Ministry of Defense, Africa Corps Locations: Russia, Western, Ukraine, Africa

☆ A San Francisco home worth $1.8 million was just listed for $488,000—but the new owners can't move in until 2053
▼ + stars: | 2024-06-25 | by ( Celia Fernandez | ) www.cnbc.com time to read: +3 min

The three-bedroom property, built in 1924, listed earlier this month is worth $1.8 million but is currently priced at $488,000, according to The San Francisco Standard. The property will be sold as is, meaning the new owners will become the current tenants' new landlords. The San Francisco metro area is one of the most expensive place to live. To afford life in a big city like San Francisco, you'd have to make double what most Americans earn, according to a May Moody's Analytics analysis. The unusual sale is partly due to a family feud, according to The San Francisco Standard.

Persons: you'd, Sandra Lee, Cheryl Lee, Todd Lee, Sandra, didn't, Lee Organizations: San Francisco, San Francisco Standard, North, CNBC Locations: San Francisco's, San Francisco, Russia Hill

☆ New Jersey Gamer Flew to Florida to Attack Rival With Hammer, Police Say
▼ + stars: | 2024-06-25 | by ( Jesus Jiménez | ) www.nytimes.com time to read: +1 min

A New Jersey man who the police said had flown to Florida and attacked a fellow gamer with a hammer over an online dispute was charged with attempted second-degree murder on Sunday. Sheriff Leeper said that Mr. Kang had never met the gamer he attacked in person, but that they knew each other from playing ArcheAge, a fantasy online game where players pursued their own adventures of exploration and conquest in a mythical world. An arrest report identified the target of Mr. Kang’s attack as Zachary Dinh, who declined to comment on Tuesday. It was unclear what interactions Mr. Kang and Mr. Dinh had online. Sheriff Leeper said that the episode “originated from an online altercation.”

Persons: Edward Kang, Bill Leeper, Sheriff Leeper, Mr, Kang, ArcheAge, Zachary Dinh, Dinh, ” Locations: Jersey, Florida, New Jersey, Nassau County, Fla

☆ Jeff Bezos' Blue Origin is annoyed with SpaceX's big rocket launches
▼ + stars: | 2024-06-25 | by ( Jaures Yip | Morgan Mcfall-Johnsen | ) www.businessinsider.com time to read: +5 min

Jeff Bezos' rocket company, Blue Origin, recently filed concerns to the FAA about Elon Musk's SpaceX, requesting that Starship's launch operations be potentially limited over environmental impact concerns. The SpaceX launch system is a work in progress. It also employs multiple properties "all within the vicinity " of SpaceX's proposed Super Heavy booster launches, Blue Origin said. SpaceX plans to launch 44 Starship-Super Heavy missions per year under a NASA lease, Blue Origin wrote in the filing. Neither SpaceX nor Blue Origin immediately responded to Business Insider's requests for comments ahead of publication.

Persons: —, Jeff Bezos, SpaceX's, Blue, Musk, Sue, chatbot Grok Organizations: Service, FAA, Elon, SpaceX, Business, Super, of, Kennedy Space Center, Heavy, NASA, CNBC Locations: SpaceX's

☆ Jim Cramer's top picks for pet-centric stocks
▼ + stars: | 2024-06-25 | by ( Julie Coleman | ) www.cnbc.com time to read: +2 min

As some of the market's hottest stocks take a pause, CNBC's Jim Cramer on Tuesday told investors it may be wise to get into some "slowdown stocks," like companies with products related to pets. Cramer suggested the "post-Covid drought" in these stocks could be over and pinpointed three: online retailer Chewy , animal health care company Elanco and J.M. Smucker, which owns pet food brands alongside its namesake jelly products and snacks for people. Smucker's efforts to trim down its pet food portfolio. "I'm going with Smucker because of its distinctive shrink-to-grow-more-profitably lucrative narrative in pet food," he said.

Persons: Jim Cramer, Cramer, Eli Lilly, Elanco, J.M, Smucker

☆ Trump’s company is valued ‘absurdly out of the realm of normal,’ LinkedIn billionaire says
▼ + stars: | 2024-06-25 | by ( Matt Egan | ) edition.cnn.com time to read: +4 min

But the LinkedIn co-founder is dumbfounded by the size of the social media fortune former President Donald Trump is sitting on. Trump’s conservative social media company, Truth Social owner Trump Media & Technology Group, is valued by Wall Street at a whopping $6 billion — even after a recent plunge in its share price. “That is wildly high,” Hoffman, who is now a director at Microsoft and a venture capital investor, told CNN. Trump’s stake is worth nearly $4 billionHoffman is hardly the first to express disbelief at the valuation of Trump Media. Based on Monday’s share price, Trump’s 114.75 million shares in Trump Media are valued at nearly $4 billion.

Persons: New York CNN — Reid Hoffman, Donald Trump, ” Hoffman, “, Elon Musk’s, Hoffman, Trump, Meta, —, Jay Ritter, Barry Diller Organizations: New, New York CNN, LinkedIn, Truth Social, Trump Media & Technology Group, Wall, Microsoft, CNN, Trump Media, Nasdaq, Reddit, Meta, Facebook, “ Trump Media, ” Trump Media, Trump, SEC, GameStop, AMC, University of Florida, ” Billionaire, MGM Resorts International, CNBC, White Locations: New York

☆ Judge rolls back parts of Trump gag order ahead of sentencing in New York criminal case
▼ + stars: | 2024-06-25 | by ( Lauren Del Valle | Jeremy Herb | ) edition.cnn.com time to read: +5 min

Trump, however, cannot discuss any prosecutor, court staffer or their family members, according to a court order on Tuesday from Judge Juan Merchan that rolls back parts of the gag order imposed before the trial began. That aspect of the gag order remains in effect at least until his sentencing, which is set for July 11. Trump spokesperson Steven Cheung said in a statement that Merchan’s order “leaves in place portions of the unconstitutional gag order” and that Trump plans to appeal the ruling. Trump repeatedly complained about the gag order throughout the seven-week trial, arguing that witnesses, including Cohen, were taking advantage of the gag order to attack him when he couldn’t respond. In the filing, the Manhattan district attorney’s office said it did not oppose lifting the portion of the gag order that blocked Trump from making statements about witnesses.

Persons: Donald Trump’s, Michael Cohen, Stormy Daniels, Joe Biden, Trump, Juan Merchan, Merchan, Biden, Steven Cheung, ” Cheung, ” Trump, Cohen, Daniels, Donald, Donald’s, ” Merchan, “ Organizations: CNN, Trump, Democratic, “, New, Trump fixer Locations: Manhattan

CNN —President Joe Biden is expected to pardon US veterans who were convicted by the military over a 60-year period under a military law that banned gay sex, three US officials told CNN. The granting of pardons won’t automatically change convicted veterans’ records but allows those impacted to apply for a certificate of pardon that will help them receive withheld benefits. A service member’s discharge status can determine what kind of Veterans Affairs benefits they are eligible for. “For decades, our LGBTQ+ service members were forced to hide or were prevented from serving altogether,” Defense Secretary Lloyd Austin said at the time. If a certificate of pardon is issued, the service member will then have to apply to their respective military department’s board of corrections to have their military records corrected.

Persons: Joe Biden, won’t, Don’t, ”, Lloyd Austin Organizations: CNN, Military, Veterans Affairs, Pentagon, ”, Department

☆ Jim Cramer says investors should stick with Nvidia post decline
▼ + stars: | 2024-06-25 | by ( Julie Coleman | ) www.cnbc.com time to read: +2 min

CNBC's Jim Cramer on Tuesday opined about his long-standing faith in Nvidia stock, even as the company shed significant market cap this week. "I'm simply going to stick with the stocks of the best companies in the market." Nvidia hit a $3.34 trillion valuation last week, surpassing Microsoft to become the largest company in the world. Cramer suggested that this data had a ripple effect across other consumer and housing-oriented stocks such as Lowe's , Home Depot and Fortune Brands . Cramer added that Nvidia and its megacap peers that can "pay cash" aren't concerned with interest rates.

Persons: CNBC's Jim Cramer, I'm, FactSet, Cramer, aren't Organizations: Nvidia, Microsoft, Corp, Depot, Fortune Brands, Pool Corp

☆ Top private-equity firms, including Apollo and KKR, just kicked off 2026 associate recruiting. Wall Street juniors are shocked and scrambling.
▼ + stars: | 2024-06-25 | by ( Reed Alexander | Emmalyse Brownstein | ) www.businessinsider.com time to read: +5 min

Read previewIn a surprise move that sent shockwaves throughout the junior Wall Street community on Monday, a series of leading private-equity firms kicked off recruiting for lucrative positions that won't start for two more years. The intense rite of passage known as "on-cycle recruiting" left some junior investment bankers scrambling to get in on a flurry of hastily arranged interviews. More than half a dozen industry sources confirmed to Business Insider that associate recruiting started on Monday evening. Last year, some candidates scored offers that surpassed $300,000 in all-in comp (including base salary and bonus), BI previously reported. One person with intimate knowledge of the recruiting process said that other firms that had yet to conduct their own interviews would likely refuse to start recruiting so early.

Persons: —, Clayton, Rice, hadn't, haven't, It's, Reed Alexander Organizations: Service, Wall, Business, Apollo Global Management, KKR, Labor Locations: Dubilier, New York City

Search resuls for: "Comment"

25 mentions found