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☆ Nvidia is now worth more than Alphabet, one day after surpassing Amazon
  + stars: | 2024-02-14 | by ( Krystal Hur | ) edition.cnn.com   time to read: +2 min
Nvidia’s market capitalization rose to $1.83 trillion on Wednesday, nudging past Alphabet’s $1.82 trillion market cap. Shares of the Santa Clara-based chipmaker rose 2.5% to $739 a share, while Alphabet shares ended the session at $145.94. Earlier this week, Nvidia surpassed Amazon, closing with a higher market cap on Tuesday for the first time since 2002. Nvidia has been the biggest beneficiary of the AI mania dominating Wall Street. Most of the Magnificent Seven, the group of tech stocks that have led the bull market, have continued to race even higher this year with Nvidia leading the pack.
Persons: ”, Dave Sekera, “, Jensen Huang, There’s, ” Huang, ” CNN’s Gayle Harrington Organizations: New, New York CNN, Nvidia, Amazon, Big Tech, Morningstar, CNN, World Locations: New York, Santa Clara, Dubai
☆ Israeli regulators are looking into unusual trading prior to October 7 attack
  + stars: | 2023-12-05 | by ( Matt Egan | ) edition.cnn.com   time to read: +3 min
CNN —Regulators in Israel are aware of and reviewing research that suggests some unknown traders may have had advance knowledge of the October 7th Hamas attacks. “This subject is known and is being thoroughly checked,” Sivan Carmon, a spokesperson for the Israel Securities Authority, told CNN in a statement on Tuesday. The ISA, the Israeli equivalent of the US Securities and Exchange Commission, is charged with fighting securities fraud, insider trading and other market abuse. Experts urged regulators to investigate the matter, including by looking at nonpublic market data that researchers did not have access to. “Of course, that’s quite different from trading based on inside knowledge of terrorist attacks,” Whitehead said.
Persons: ” Sivan Carmon, hasn’t, Yaniv Pagot, ” Pagot, ” Charles Whitehead, Whitehead, ” Whitehead, ” – CNN’s Gayle Harrington Organizations: CNN, Regulators, Israel Securities Authority, Columbia University, New York University, ISA, US Securities and Exchange Commission, Industry Regulatory Authority, Israel, Fund, Tel Aviv Stock Exchange, Bank Leumi, Cornell Law School Locations: Israel, Gaza, San Francisco
☆ IATA: Airline industry expects to make profits of nearly $10 billion this year
  + stars: | 2023-06-05 | by ( Hanna Ziady | ) edition.cnn.com   time to read: +2 min
IATA on Monday more than doubled its 2023 profit forecast for the global airline industry despite a looming economic downturn. Airlines are expected to make $9.8 billion in net profit in 2023, up from a December forecast of $4.7 billion. The industry’s main lobby group expects 4.35 billion people to travel by air this year, not far off the 4.54 billion passengers who flew in 2019. The figures mark a significant turnaround for the airline industry, which carried just 1.8 billion passengers in 2020 because of the coronavirus pandemic, at a loss of $76 per traveler. From that nadir, air travel has rebounded even as high inflation and rising interest rates weigh on spending by businesses and consumers in other areas.
Persons: Willie Walsh, ” Walsh, Walsh, “, CNN’s Richard Quest, we’re, ” — Gayle Harrington Organizations: London CNN — Global, International Air Transport Association Locations: Istanbul, “
☆ Microsoft enters 10-year agreement with Nintendo in fight to save Activision deal
  + stars: | 2023-02-21 | by ( Gayle Harrington | ) edition.cnn.com   time to read: +2 min
CNN —Microsoft announced it has agreed to partnerships with Nvidia and Nintendo as it tries to convince European Union officials to approve its $69 billion purchase of Activision Blizzard — the company behind the popular game franchise Call of Duty. Microsoft President Brad Smith had a closed-door meeting Tuesday with EU regulators and competitors in Brussels to address concerns that its acquisition of Activision Blizzard could hurt competition in the video game industry. The deal has also come under scrutiny from regulators in the United States and the United Kingdom. Microsoft (MSFT) said that it has entered into a 10-year partnership with Nvidia to bring Xbox PC games to Nvidia’s cloud gaming service. In a statement, the software giant said the partnership “resolves Nvidia’s concerns with Activision Blizzard.
☆ Kanye West: Adidas to launch investigation into allegations of inappropriate behavior made against rapper
  + stars: | 2022-11-24 | by ( Gayle Harrington Robert North | Gayle Harrington | Robert North | ) edition.cnn.com   time to read: +2 min
CNN Business —Adidas will begin an investigation into allegations of misconduct against Kanye West, with whom the company had a partnership that it ended in October. In a statement released Thursday, Adidas said “it is currently not clear whether the accusations made in an anonymous letter are true. “I think Adidas felt like cause everyone was ganging up on me that they had the right to just take my designs,” West told a small crowd. In the video, West did not apologize for his antisemitic remarks but seemed to try to distance himself from any “hate group.”“I have no association to any hate group,” West said as he closed his remarks in prayer. In 2016, Adidas expanded its relationship with the rapper, calling it “the most significant partnership ever created between a non-athlete and an athletic brand.”West doesn’t currently have an attorney or publicist representing him in this matter.
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