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The leaders of the Group of 7 countries will share the stage on Friday with leaders from India, Brazil, Turkey and other non-Western countries, showcasing a shifting global landscape on the second day of their summit meeting. Among the thorny questions on the agenda: migration, which has helped fuel a recent resurgence of populism and far-right parties in Europe and the United States. The leaders will also discuss economic competition with China, security in the Indo-Pacific and relations between the West and the countries known collectively as the Global South, which broadly includes Latin America, Africa and much of the Middle East and Asia. Prime Minister Giorgia Meloni of Italy, who is hosting the meeting, said the goal of her expanded guest list was to “strengthen dialogue with the nations of the Global South.” She insisted that the Group of 7 was “not a fortress closed in itself,” but “an offer of values that we open to the world.”Prime Minister Fumio Kishida of japan also emphasized the importance of strengthening relations with partners beyond the group, in particular the Global South, as the world faces challenges like Russia’s invasion of Ukraine and the war between Israel and Hamas, which threatens to spread to Lebanon.
Persons: Giorgia Meloni, Fumio Kishida Organizations: Locations: India, Brazil, Turkey, Europe, United States, China, America, Africa, East, Asia, Italy, japan, Ukraine, Israel, Lebanon
On board the Russian warship visiting Cuba
  + stars: | 2024-06-14 | by ( Patrick Oppmann | ) edition.cnn.com   time to read: +5 min
But now I was in a line for something unexpected: to board a Russian warship docked in Havana’s harbor. When a Russian diplomat told me that starting on Thursday, the Admiral Gorshkov frigate would offer tours to the public for three days, I was somewhat skeptical. People line up to visit Russian frigate Admiral Gorshkov (not pictured) docked in Havana's bay, Cuba, June 13, 2024. I noticed one of the Russian sailors taking in the blue skies and calm waters around us. For a Russian sailor, Cuba could be as good as it gets these days.
Persons: Admiral, Vladimir Putin’s, , , Donald Trump, Gorshkov, Alexandre Meneghini Organizations: Havana CNN —, Cuba’s Ministry of Defense, Cuban Navy, Reuters, Pentagon, US Navy Base Locations: Havana, Cuba, Russian, Havana’s harbor, Kazan, Moscow, Washington, Ukraine, Cuban, Reuters Russian, York, Russia, Guantanamo Bay
download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. The Baltic gem is truly Europe's biggest hidden treasure, and the secret might be out: The World Happiness Report 2024 just dubbed it the happiest place in the world for children and people under 30. Although I moved out of Vilnius 10 years ago to pursue career opportunities in London, I visit home often. My most recent visit to Lithuania lasted nearly a month and only reaffirmed my love for the country and its capital. Lithuania offers a unique and enriching experience that's hard to find elsewhereLithuania's blend of vibrant culture and excellent education opportunities makes it an attractive destination for young people.
Persons: , Eduardo Fonseca Arraes, Gediminas, We're, it's, Loreta Organizations: Service, Business, Getty Locations: Lithuania, Lithuania's, Vilnius, Europe, London
Sony Pictures is buying Alamo Drafthouse
  + stars: | 2024-06-12 | by ( Ramishah Maruf | ) edition.cnn.com   time to read: +1 min
New York CNN —Sony Pictures Entertainment has bought dine-in movie theater chain Alamo Drafthouse, the companies announced Wednesday. Sony said in a press release that the movie theater chain will be managed under a new division, Sony Pictures Experiences. While other Hollywood studios have jumped into streaming, Sony Pictures CEO and chairman Tom Rothman has expressed his commitment to movie theaters, according to various trade publications including The Hollywood Reporter. Sony Pictures touted its other spaces in the press release, such as Wonderverse, an immersive entertainment space, in Chicago and a Wheel of Fortune LIVE! Sony acquired Alamo from owners Altamont Capital Partners, Fortress Investment Group and founder Tim League.
Persons: Michael Kustermann, Ravi Ahuja, Tom Rothman, , Tim League Organizations: New, New York CNN, Sony Pictures Entertainment, Alamo, Business, Sony, Sony Pictures, SPE, Hollywood, Hollywood Reporter, Altamont Capital Partners, Fortress Investment Group, Fest Locations: New York, Austin , Texas, Chicago
Sony Pictures is buying Alamo Drafthouse theater chain
  + stars: | 2024-06-12 | by ( Sarah Whitten | ) www.cnbc.com   time to read: +2 min
Sony Pictures has acquired Alamo Drafthouse, the seventh-largest movie theater chain in North America, the company announced Wednesday. Alamo Drafthouse CEO Michael Kustermann will remain at the helm of the dine-in movie theater chain and will report to Ravi Ahuja, president and CEO of the newly formed Sony Pictures Experiences division. The company's 35 cinemas will continue to be operated by Alamo Drafthouse and its headquarters will remain in Austin, Texas. The acquisition comes after Alamo Drafthouse filed for Chapter 11 bankruptcy protection in 2021 due to Covid-19 pandemic disruptions. "We are excited to make history with Sony Pictures Entertainment and have found the right home and partner for Alamo Drafthouse Cinema," said Kustermann.
Persons: Walter Reade, Michael Kustermann, Ravi Ahuja, Alamo Drafthouse, Ahuja, Tim League Organizations: Sony Pictures, Alamo, Department, Paramount, Warner Bros, Century Fox, MGM, Universal, United Artists, Columbia Pictures, Sony, Walter Reade Organization, Lowes, Disney, El Capitan Theatre, Netflix, Egyptian, New York's, Altamont Capital Partners, Fortress Investment Group, Sony Pictures Entertainment Locations: North America, Columbia, New York's Paris, Austin , Texas, Texas
AdvertisementI made a point to visit the Villa Zorayda MuseumThe Villa Zorayda Museum was modeled after the Alhambra Palace in Spain. Megan duBoisI've passed by the Villa Zorayda Museum many times while exploring St. Augustine, but I'd never ventured inside until this visit. The Spanish influence is visible all over the city's architectureMore showcases of Spanish architecture can be found around the city. For a Spanish-inspired drink, I went straight to Columbia RestaurantI love the white sangria at Columbia Restaurant. I shared a pitcher of white sangria with two other people, and it was loaded with fresh citrus and a splash of Torres 10 brandy.
Persons: , I've, Megan duBois I've, Augustine, I'd, Megan duBois, Ponce de Leon Hall, Leon Hall, Ponce de Leon, George Street, Castillo, San, Castillo de San, San Marcos — Organizations: Service, Business, Villa Zorayda, Villa Zorayda Museum, Ponce de, Leon, Ponce, Lightner, Museum, Spanish, Columbia, Historic District, San Marcos Locations: Spain, Barcelona, St, Augustine , Florida, Jacksonville, Granada, Moroccan, Ponce, Flagler, Ponce de, Spanish, Penedes, San Marcos, Castillo de San Marcos
Read previewNvidia cofounder and CEO Jensen Huang is in Taiwan this week, where he's getting rockstar reception and boosting the stock market. The drills started on Thursday, but Taiwan's stock market was little changed over the period. "In this case, the AI equity theme, physical investment in AI, and the wider upturn in electronic component demand are driving robust Taiwanese growth and the strong stock market performance," wrote Green. He added that an outright invasion of Taiwan by China is "very unlikely" due to high military and economic risk. "If the macro backdrop is positive and China remains far from achieving 'fortress-like' economic conditions, future sell-offs may offer attractive buying opportunities," Green wrote.
Persons: , Jensen Huang, Huang, Li Xi, Morris Chang, Lisa Su —, Pat Gelsinger, Cristiano Amon, Rene Haas, Rory Green, It's, Green Organizations: Service, China's People's Liberation Army, Business, Local, rockstar, Asus, AMD, Qualcomm, Semiconductor, PLA, Investors, Philadelphia Stock Exchange, Nvidia Locations: Taiwan, China, Beijing, TSMC, Taipei, Taiwan's, GlobalData.TS, Ukraine, Russia
Gaza’s Historic Heart, Now in Ruins
  + stars: | 2024-05-28 | by ( Bora Erden | Graham Bowley | Tala Safie | ) www.nytimes.com   time to read: +9 min
A black and white photograph shows the structures making up Gaza city, with the minaret standing tall in the background. A black and white photograph shows the structures making up Gaza city, with the minaret standing tall in the background. A black and white image shows Gaza’s old town, with the minaret standing above other structures in the back. A black and white photograph shows Gaza’s old town, its houses and palm trees. A black and white photograph shows Gaza’s old town, its houses and palm trees.
Persons: Samson, Samar Abu Elouf, , Jehad Abusalim, They’re Organizations: Crusaders, Palestine Exploration Fund, Ottomans, British, Colony Photo Department, Library, Supreme Muslim Council, The New York Times Locations: Gaza, Gaza City, Palestine, Mecca, British, Ottoman, Jerusalem, Samar, Palestinian
Dancing Past the Venus de Milo
  + stars: | 2024-05-16 | by ( Catherine Porter | Dmitry Kostyukov | Photographs | ) www.nytimes.com   time to read: 1 min
I fell in love with the Louvre one morning while doing disco moves to Michael Jackson’s “Don’t Stop ’Til You Get Enough” in the Salle des Cariatides. The museum, a former medieval fortress and then royal palace, had not yet opened, and I was following instructions to catwalk and hip bump and point in the grand room where Louis XIV once held plays and balls. The sun cast warm light through long windows, striping the pink-and-white checkered floor and bathing the marble arms, heads and wings of the ancient Grecian statues around me. “Point, and point, and point,” shouted Salim Bagayoko, a dance instructor. So I struck my best John Travolta poses and pointed around the room, my eyes landing on the delicate sandaled foot of Artemus, the wings of a Niobid and the stone penis of Apollo.
Persons: Michael Jackson’s, Louis XIV, , Salim Bagayoko, John Travolta Organizations: Salle des Cariatides Locations: Salle
A guy sat near meThe flight was about to take off when a guy my age rushed onto the plane. He plunked into an aisle seat and settled in. Lights dimmed, and the movie started. Six months later, I quit my job, moved to California, and started life as a freelance consultant. I've never returned to corporate work and still have a soft spot for that in-flight movie, "A Simple Twist of Fate."
Persons: I'd, glanced, Gary, We've, I've, Steve Martin, Nancy Brier, www.NancyBrier.com Organizations: Service, JFK Locations: Portland, New York, I'd, San Francisco, California, Southern California
Traders fear that elevated rates will uphold painfully high borrowing costs for consumers, squeeze corporate profit and weigh down the market. The labor market has stayed strong, consumers have continued spending and stocks have notched repeated record highs. The April jobs report was a welcome sign that the labor market is cooling without cratering. The labor market added just 175,000 positions last month, marking its lowest tally since October 2023 and a sharp cooldown from the upwardly revised 315,000 jobs added in March. First-time applications for unemployment benefits climbed last week to 231,000, the highest level since last August, in another sign that the labor market is cooling.
Persons: , , Jeff Buchbinder, Jerome Powell, ” Powell, April’s, David Russell, Matt Egan, Wally Adeyemo, Read, Diksha Madhok, Narendra Modi, Modi, Mukesh Ambani, Gautam Adani, Ambani, Ji, ” Modi, Rahul Gandhi Organizations: CNN Business, Bell, New York CNN, Federal, Traders, CNN, Fed, LPL, ” Treasury, Treasury, Reliance Industries, Adani, Indian National Congress Locations: New York, Thursday’s, , India
Apple 's latest $110 billion stock buyback authorization is the granddaddy of them all — the biggest in corporate history. Assuming an average annual $100 billion buyback by the Club name going forward, we wanted to look at just how much that is worth to shareholders. With more records set for its installed base of active devices and services in Q2, Apple stock rose nearly 6% on Friday, the session following Thursday evening's release. The net cash position is important because Apple aims to be net cash neutral over time. At a valuation of 28 times earnings, we arrive at a share price of about $182 each, right around where it was trading Wednesday.
Persons: let's, Apple, Jim Cramer's, Jim Cramer, Jim, Gary Hershorn Organizations: Apple, Club, Vision, Vision Pro, CNBC, Corbis, Getty
The new public-private partnership, dubbed Project Fortress, underscores the real danger US officials and bank executives believe cyberattacks pose to the economy. But Project Fortress is not just about playing defense. Project Fortress has been in the works for several months, with Treasury rolling out various parts of the alliance in pieces, the source said. One of the key elements of Project Fortress is the cyber hygiene tool run by the Cybersecurity and Infrastructure Security Agency (CISA). The federal government has recently flexed its offensive capabilities, including ones that are part of Project Fortress.
Persons: Wally Adeyemo, Janet Yellen, Adeyemo, Jamie Dimon, Brian Moynihan, Jane Fraser, Robin Vince, ” Vince, Vince, Jerome Powell, ” Adeyemo, Sean Lyngaas Organizations: New, New York CNN, Treasury, CNN, Bank Policy, JPMorgan Chase, Bank of America, Citigroup, BNY, Washington, Industrial, Commercial Bank of China, Infrastructure Security Agency, JPMorgan Locations: New York, Washington
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailIt's 'impossible to say the bottom is in' for commercial real estate, says Fortress Co-CEO Drew McKnightHosted by Brian Sullivan, “Last Call” is a fast-paced, entertaining business show that explores the intersection of money, culture and policy. Tune in Monday through Friday at 7 p.m. ET on CNBC.
Persons: Drew McKnight, Brian Sullivan, Organizations: CNBC
With the Fed, Apple earnings and the jobs report passing with flying colors this week, the runway to more gains looks a lot less cluttered. This past week was chock full of Club earnings: 12 portfolio companies, including Apple , delivered results. Analysts expect Wynn's earnings per share of $1.27 versus 29 cents a year ago when China was not fully back from Covid. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio.
Persons: Jerome Powell, we're, Jim Cramer, Jim, Apple, Eli Lilly, Estee Lauder, Stanley Black, Decker, Bausch, FactSet, It's, Bob Iger, Iger, Nelson Peltz, We're, Krystal, Berkshire Hathaway, Tyson, Jones Lang, Walt, Ferrari N.V, WK Kellogg, Wynn, Vishay, CRON, MARA, RICK, Ginkgo, Jim Cramer's, David Paul Morris Organizations: Federal Reserve, Apple, GE Healthcare, DuPont, Linde, Bausch Health, Coterra Energy, Club, Disney, Wynn Resorts, CNBC, Revenue, Vegas Sands, Cotai, Boston, Airlines, Krystal Biotech, Alpha Metallurgical Resources, Axsome Therapeutics, Tyson Foods, TSN, Bowlero Corp, CNA Financial Corp, CNA, Jones Lang LaSalle Incorporated, Technologies, Realty Income Corp, Lab, Teradata Corp, Technology, FMC Corporation, FMC, Paymentus Holdings, Shockwave, Vertex Pharmaceuticals, Goodyear Tire & Rubber Company, Simon Property Group, Sterling Construction Company, Apple Hospitality, Boise Cascade Corporation, BellRing Brands, Coty, COTY, Fidelity National Information Services Inc, Vornado Realty, Walt Disney Co, Holdings, Madrigal Pharmaceuticals, Nikola Corporation, BP, Rockwell Automation, MarketAxess Holdings, Jumia Technologies, GEO Group, Builders FirstSource Inc, Duke Energy Corp, WYNN, Rivian Automotive, Arista Networks, Occidental Petroleum Corp, Astera Labs, Bros, Flywire Corporation, B2Gold Corp, Kinross Gold Corp, Virgin Galactic Holdings, iRobot Corp, Electronic Arts Inc, McKesson Corp, ACM Research, Avadel Pharmaceuticals, Toyota Motor Corp, Emerson Electric Co, Perion, Editas, Brink's Company, Sinclair Corporation, New Fortress Energy, Starwood Property Trust, Animal Health, ELAN, Farms, IM Cannabis Corp, Fox Corporation, Formula One, Icahn Enterprises, Teva Pharmaceutical Industries, Arm Holdings plc, ARM, AMC Entertainment Holdings, Trade, AppLovin Corporation, Sciences Corp, SolarEdge Technologies, Roblox Corporation, GigaCloud Technology Inc, Warner Bros ., Properties Trust, Growers, Constellation Energy Group, Cronos, Fiverr, Solar Inc, EPAM Systems, Cedar Fair Entertainment, Digital Holdings, RCI Hospitality Holdings, Akamai Technologies, Semiconductor, Insulet Corp, NuScale Power Corporation, Ginkgo Bioworks Holdings, Bloom Energy Corporation, Construction, AMC Networks, CRH Public Ltd . Company, Jim Cramer's Charitable, Allen, Co . Media, Technology Conference, Bloomberg, Getty Locations: China, Eaton, Amazon, Covid, Macao, Vegas, Sun Valley , Idaho
The portfolio manager whisperers
  + stars: | 2024-05-03 | by ( Alex Morrell | ) www.businessinsider.com   time to read: +24 min
AdvertisementHistorically, a hedge fund's chief investment office or senior portfolio manager was responsible for vetting and wooing key investment hires. They can also help hedge funds save on outside recruiting costs, which can add up to tens of millions a year. Hedge funds targeted institutional salespeople at investment banks with exposure to hedge funds, as well as asset allocators with chops in portfolio-manager selection and due diligence. Assets at multimanager hedge funds have boomed since 2018. The principle may work for fictional baseball diamonds, but the reality at hedge funds is more complicated.
Persons: Taylor Swift, Travis Kelce, Goldman Sachs, , That's, headhunter who's, liken, Nick Saban's, Midlevel, headhunter, Ken Griffin, Michael Kovac, execs, Jennifer Blake, BD Thomas DeAngelis, Walleye Capital Paritosh Singh, Americas Michael Grad, BlueCrest Lindsay Previdi, Point72, Freestone Grove Matthew Giannini, Ken Griffin's, ExodusPoint, Brevan Howard, breakneck buildout, Michael Gelband —, Jonathan Hoffman, Alexander Phillips, ExodusPoint's, Millennium's Izzy Englander, noncompetes, Millennium Management Amanda Gordon, multimanagers, who've, Goldman, Schonfeld, Brevan Howard —, Neil Chriss, Harry Schwefel, Jonathan Brenner, Walleye's, Thomas DeAngelis, DeAngelis, Brenner, DeAngelis hasn't, Kansas City Chiefs Travis Kelce, Erick W, Rasco, Donald Trump's, America couldn't, Citadel execs Todd Barker, Daniel Morillo —, Jeff Runnfeldt, Bobby Jain, allocator Organizations: NFL, Business, Citadel, BD, University of Alabama, execs, Balyasny, Walleye Capital, Millennium, Americas, Freestone Grove, — Citadel, Walleye, BI, Costco, Millennium Management, Bloomberg, Getty, Investor, Barclays, Barclays Capital Solutions, Brookfield, Paloma Partners, Kansas City Chiefs, San Francisco 49ers, Allegiant, Getty Images, Black, Investors, ex, Fortress Locations: America, multimanagers, , Hudson Bay, Schonfeld, Israel, multimanager, Europe, Middle East, Africa, Vegas, Balyasny
CNN —Archaeologists have unearthed the skeletons of five people, missing their hands and feet, at a former Nazi military base in Poland. Latebra Fundation PolandHowever, they then found ashes and a burned key, before he found the skull fragment. The foundation is waiting to hear the results of a police investigation into the remains, and many questions remain unanswered. “Right now, it’s very hard to say.”The excavation site outside a house inside the Wolf's Lair Latebra Fundation PolandAn important next step is to find out the age of the remains using radio carbon dating, he added. Deliberately built miles from civilization in the forests of northeastern Poland, the Wolf’s Lair was the Nazis’ 6.5-square-kilometer (2.5-square-mile) Eastern Front headquarters.
Persons: Hermann Göring, Adolf Hitler, Adrian Kostrzewa, Latebra, , Hitler Organizations: CNN —, Nazi, Latebra Foundation, CNN, Third Locations: Poland, Gierloz, Polish, Gdansk, Europe
While Red Lobster increased traffic somewhat, people coming in to chow down on all-you-can-eat shrimp was a money bleeder. But the story about what's gone wrong with Red Lobster is much more complicated than a bunch of stoners pigging out on shrimp (and, later, lobster) en masse. Red Lobster first opened in Lakeland, Florida, in 1968 and was acquired by the food conglomerate General Mills in 1970. "What's truly happened with Red Lobster is that the consumer base has changed and Red Lobster hasn't," he said. "Red Lobster isn't losing to a competitor in their space — they're losing to competitors outside their space."
Persons: It's, what's, Jonathan Maze, Mills, General Mills, Olive, Darden, Red, Eileen Appelbaum, isn't, they've, it's, Keith Bedford, Darren Tristano, John Gordon, Kim Lopdrup, Red Lobster's, He's, Jonathan Tibus, Gordon, Tristano, You've, Emily Stewart Organizations: Bloomberg, Restaurant Business, Olive Garden, LongHorn, Darden, Golden Gate, American Realty, Lobster, Center for Economic, Policy Research, Thai Union, Seafood Alliance, Thai, Fortress Investment Group, Reuters, Business Locations: chow, Lakeland , Florida, San Francisco, Thai, Thailand, Thai Union, Golden, San Diego
It says the M5 will be able to travel 820 feet underwater and stay submerged for a month. A promotional concept rendering for the Migaloo M5, a proposed submersible superyacht. The Migaloo concept clearly aims to cater to an increasing desire for privacy and security among the world's richest people. Bobbing about underwater in a Migaloo M5, Elon Musk wouldn't have to worry about a jet-tracking student any longer. A promotional concept rendering for the Migaloo M5, a proposed submersible superyacht MigalooIt remains to be seen if and when any prospective buyers will bite.
Persons: Christian Gumpold, , there's, Gumpold, Migaloo, Bond, It's, Elon Musk, it's Organizations: Service, Elon, SAFE, Fast Company Locations: Austria, Austrian
Read previewRussian troops appear to be making tactical advances just northwest of Avdiivka toward a so-called "fortress belt" of Ukrainian cities, war analysts report. Though it remains to be seen whether Russian command will turn its focus its troops on that area, they're setting the stage for offensive operations in that direction. With Russian forces continuing to solidify their positions northwest of Avdiivka, a war-torn town they captured in February, they now have choices on which objectives to pursue. "The Russian military command could decide that advances north along the H-20 highway would allow Russian forces to conduct subsequent complementary offensive operations from the east and south against the southern edge of the Ukrainian fortress belt in Donetsk Oblast," ISW wrote. The potential for advances in this sector comes ahead of an expected Russian offensive this summer, when Moscow's troops could have the opportunity to make significant gains in the Chasiv Yar area and beyond.
Persons: , Chasiv Yar, ISW Organizations: Service, Business, Russian, The Institute, Washington DC Locations: Avdiivka, Ukraine, Russia, Bakhmut, Washington, Chasiv Yar, Donetsk Oblast, Duzhkivka, Ukrainian
Russian forces have razed dozens of towns and cities in Ukraine over the past 26 months — killing thousands of civilians, forcing millions from their homes and leaving a trail of destruction that is impossible to calculate. Cities and towns little known to the world have become the scorched-earth battlegrounds where two armies clashed for months to bloody effect before the Russians finally prevailed. Now Russian forces have set their sight on Chasiv Yar, a hilltop fortress town in eastern Ukraine. The campaign is part of an intense effort by Russia to achieve what could be its most operationally significant advance since the first summer of the war in 2022. That includes the headquarters of the Ukrainian eastern command in Kramatorsk.
Persons: Chasiv Yar Locations: Ukraine, Avdiivka . Cities, Russia, Donetsk, Ukrainian, Kramatorsk
While a market correction can be bad for a portfolio, CNBC Pro has some ideas for how to weather a downturn. The average analyst surveyed by LSEG also has a buy rating with an upside showing shares can rally about 18% in the next year. In addition to having a buy rating, the typical analyst polled by LSEG anticipates shares climbing nearly 21%. It also has the second-highest earnings per share growth rate at nearly 265%. But the average analyst has a buy rating on the stock with a price target suggesting shares can jump nearly 16%, per LSEG.
Persons: catalyzing, Ventas, LSEG, Steve Sakwa, Sakwa Organizations: CNBC Pro, Gross, Dow Jones Industrial, Nasdaq, Resorts
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWes Edens on Brightline West groundbreaking, geopolitical market risks and the FedMorgan Brennan exclusively interviews Wes Edens, who was at the groundbreaking ceremony for Brightline West—a privately-owned, high-speed train connecting Las Vegas and southern California. Edens, founder of Brightline, also runs New Fortress Energy, an LNG operator. Edens talks the energy markets, geopolitical risks to the market and why he says the Fed will be cutting rates later this year.
Persons: Wes Edens, Fed Morgan Brennan, Edens Organizations: Brightline, Fed, New Fortress Energy Locations: Las Vegas, California
Arkhouse then launched its proxy fight and put forward nine nominees to Macy's 15-person board. Turning the tideOther department store chains have faced challenges from activists in recent years, and even when those efforts fall short, the pressure can bring about sweeping changes. That includes Macy's locations with stronger sales as well as its two chains that have outperformed the namesake brand, higher-end department store chain Bloomingdale's and beauty chain Bluemercury. Arkhouse claims Macy's refused to engage with it, and Macy's rebuffed Arkhouse saying it didn't have the financing for the takeover it proposed. Arkhouse, for its part, has said it plans to keep Macy's stores open.
Persons: Bing Guan, Tony Spring, Arkhouse, Neil Saunders, Macy's, Michelle Gass, Levi Strauss, Chip Bergh, Ben Hider, , GlobalData's Saunders, It'll, Gavriel Kahane, Kahane, it's Organizations: Macy's Inc, National Retail Federation, Bloomberg, Getty, Arkhouse Management, Capital Management, American, Brigade, Levi, Herald, Sears, CNBC, Macy's, Fortress Investment Group, One Investment Management Locations: Herald, New York, Macy's, New York City
Cramer's Lightning Round: Cummins is a buy
  + stars: | 2024-04-11 | by ( Julie Coleman | ) www.cnbc.com   time to read: +1 min
Stock Chart Icon Stock chart icon Cummins' year-to-date stock performance. Cummins : "I like Cummins very much, I think it's terrific [buy, buy, buy!]." Stock Chart Icon Stock chart icon PNC's year-to-date stock performance. [Buy, buy, buy!]." Stock Chart Icon Stock chart icon NIO's year-to-date stock performance.
Persons: Wes Edens, Cummins, Jim Cramer's Organizations: New Fortress Energy, Abbott Laboratories, Abbott Labs, PNC Locations: New
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