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☆ These 4 Asian stocks are set to pop on an AI server cooling boom, Nomura says
▼ + stars: | 2024-09-24 | by ( Weizhen Tan | ) www.cnbc.com time to read: +2 min

That's liquid cooling, a cooling technology used in data centers which helps to improve power and cost efficiency. "As air cooling is approaching the limit of its cooling capacity, the importance of liquid cooling is getting increasingly more pronounced … liquid cooling [is] becoming a must-have for GB200," said the bank. Nomura estimates the liquid cooling penetration rate in Nvidia's AI servers is set to rise from 8% in 2024 to 43% in 2025, and 47% in 2026. Liquid cooling systems are the solution to "power shortage pressures" in data centers, Morgan Stanley said in a previous report . Against that backdrop, Jefferies is bullish on four Asian stocks it says will be "key beneficiaries" of the liquid cooling trend.

Persons: Nomura, Morgan Stanley, Jefferies, it's, — CNBC's Michael Bloom Organizations: Nvidia, Nomura, Tech, Jefferies, Nvidia's G200, Micro Computer, Quanta's CDU, Microsoft, Meta, Web Services Locations: Taiwan, Delta

☆ Boeing sweetens offer to union as strike enters second week
▼ + stars: | 2024-09-23 | by ( Leslie Josephs | ) www.nbcnews.com time to read: +2 min

The new offer raised pay, reinstated annual bonuses and increased a bonus that would be given upon the contract’s ratification, among other changes, Boeing said on its website. It also doubled the ratification bonus to $6,000, reinstated an annual machinist bonus and raised the company’s 401(k) match. The labor union, the International Association of Machinists and Aerospace Workers, didn’t immediately comment on the offer. Both Boeing and the union said they were disappointed with negotiations last week. The strike came as workers voted 94.6% against the previous proposal that the union had endorsed.

Persons: didn’t, group’s, Kelly Ortberg, Ron Epstein Organizations: Boeing, International Association of Machinists, Aerospace Workers, Bank of America, CNBC Locations: Renton , Washington, Seattle

☆ The gigantic dunes rising up out of the world’s oldest desert
▼ + stars: | 2024-09-23 | by ( Joe Yogerst | ) edition.cnn.com time to read: +8 min

Angle for Nile perch at Lake Turkana (Kenya)Lake Turkana is the world's largest permanent desert lake. Discover the Force at “Star Wars” film sites (Tunisia)"Star Wars" is brought down to Earth in Tunisia. Alternating between existing structures and sets specifically built for “Star Wars,” scenes from four of the movies were shot on location in Tunisia. Galaxy Tours is one of several outfitters with multi-day guided excursions of Tunisia’s enduring fan-favorite “Star Wars” landmarks. Yvonne Wacht/iStock Editorial/Getty ImagesMake like a nomad on a caravan camping trip in the vast Erg Chigaga desert of southern Morocco.

Persons: Salvador Dalí couldn’t, Egypt's, Alexander, Emily H, Johnson, George Lucas, Luke Skywalker’s, Lars Homestead, Hoan, Morocco's, Yvonne Wacht, ” Organizations: CNN, Oasis, Alamy, UNESCO, Washington Post, Heritage, Lobolo, “, “ Star, San, Camp, Fiume Bush, outfitters Locations: Africa, Sahara, Kenya, Namibia, Namib, Xinhua, Egypt, Cairo, Mauritania, Ouadane, Angle, Turkana, Lake Turkana, Namaqualand, South Africa, Cape Town, Tunisia, Sidi Driss, Matmata, Naftah, Fiume, Morocco, muti, Marrakesh, Aït

☆ Battery giant Northvolt to cut 25% of workforce in Sweden as part of a major cost-cutting drive
▼ + stars: | 2024-09-23 | by ( Sam Meredith | In Samuelmeredith | ) www.cnbc.com time to read: +2 min

Battery maker Northvolt on Monday announced plans to cut a total of 1,600 jobs in Sweden as part of a major cost-cutting drive. The strategic action requires Northvolt to reduce its global workforce by around 20% and a 25% reduction in Sweden, the firm said. Northvolt, which currently delivers batteries from its first gigafactory Northvolt Ett in Skellefteå, said in March that it had over 6,000 employees. The announced measures come as part of a broader strategic review and in response to what Northvolt described as "a challenging macroeconomic climate." Based in Stockholm, Sweden, Northvolt is one of Europe's most valuable privately-held tech firms that builds lithium-ion batteries for the electric vehicle industry.

Persons: Northvolt, Peter Carlsson, Carlsson, — CNBC's Ryan Browne Organizations: Office, Monday, Volkswagen, Volvo Locations: Northvolt, Sweden, Skellefteå, Stockholm

Meanwhile, Morgan Stanley raised its price target on Constellation Energy to $313m implying more than 20% upside. 7 a.m.: DA Davidson downgrades Microsoft, cites diminishing AI lead DA Davidson believes that Microsoft has lost its edge over competitors in artificial intelligence. The investment firm downgraded shares of the tech giant to neutral from buy, although analyst Gil Luria maintained his $475 price target. This could begin to have a material impact on the company's returns beginning in 2025, the analyst wrote. Wells Fargo analyst Neil Kalton also hiked his price target on the stock to $300, implying nearly 18% upside ahead.

Persons: Raymond James, Morgan Stanley, Bernstein, DA Davidson, Davidson, Gil Luria, Luria, GitHub Copilot, — Lisa Kailai Han, Daniel Roeska, Roeska, Lisa Kailai Han, Ronald Josey, Josey, Meta, Atif Malik, Malik, Raymond James downgrades, Brian Gesuale, Gesuale, David Arcaro, Arcaro, Wells, Neil Kalton, — Fred Imbert Organizations: CNBC, Constellation Energy, Motors, Microsoft, DA, Nvidia, Motors General Motors, General Motors, Hyundai, Citi Locations: Palantir, Friday's, U.S, 25e, GenAI

☆ Wall Street hovers near record highs. Here's why we want to see choppiness
▼ + stars: | 2024-09-23 | by ( Paulina Likos | ) www.cnbc.com time to read: +3 min

Every weekday the CNBC Investing Club with Jim Cramer holds a "Morning Meeting" livestream at 10:20 a.m. The Dow closed Friday at a record while the S & P 500 did so Thursday . Despite a slight dip in the S & P 500 Friday, the S & P Short Range Oscillator moved further into overbought territory at 7.3%. 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, Stocks, Jim Cramer's, Morgan Stanley, Goldman Sachs, Jim, Jeff Marks, Jeff Organizations: CNBC, Dow, Health, Intel, Qualcomm, Bloomberg News, Apollo Global Management, Apple, Barclays, JPMorgan, Citigroup Locations: U.S

☆ Qualcomm has good reasons to bid for Intel — but a takeover probably won't happen
▼ + stars: | 2024-09-23 | by ( Hasan Chowdhury | ) www.businessinsider.com time to read: +6 min

Read previewIf Qualcomm sees it through, its takeover bid of Intel would likely be the biggest in Silicon Valley history. The possibility of Intel handing its 56-year history over to a younger rival emerged last week after several reports said that California-based semiconductor firm Qualcomm had made a takeover approach. That said, not everyone is convinced that Qualcomm needs Intel — or that a buyout would be a good idea for either company. My industry survey also indicates that Qualcomm is currently in takeover talks with Intel. A Qualcomm bid for Intel could face similar regulatory obstacles to the takeover attempt Nvidia made for Arm in 2020 and later abandoned in 2022.

Persons: —, Qualcomm's, Pat Gelsinger, Patrick Moorhead, Richard Windsor, Chi Kuo, 錤, Qualcomm Organizations: Service, Qualcomm, Intel, Business, Nvidia, Financial Times, CNBC, Amazon Web, Intel Foundry, Radio Free Mobile, International Securities, Microsoft, Bloomberg Locations: Silicon Valley, California, Europe, Taiwan

☆ Hunting for a Private College Scholarship Can Be a Total Waste of Time
▼ + stars: | 2024-09-23 | by ( James S. Murphy | ) www.businessinsider.com time to read: +14 min

So she and Maggie had focused their hopes on getting a private scholarship. She considered paying $700 for an online class, heavily promoted on Facebook, that promised to show parents how to find college scholarships. Every year, hundreds of thousands of students like Maggie devote countless hours to the hunt for private scholarships to pay for college. AdvertisementWith the combination of institutional aid and private scholarship she received, Maggie managed to cut her original college bill from $15,000 to $8,000. The illness is treatable, but it's likely to cost the family $5,000 out of pocket — effectively wiping out the financial value of the private scholarship Maggie received.

Persons: Maggie Beam, Siobhan, Maggie, Siobhan —, —, Mark Kantrowitz, Kantrowitz, it's, Fastweb, Jeff Levy, you'd, Ed McMahon, Peter Thiel, Ron Lieber, Dawn Brady, Chris Reeves, Aisosa, Levy, Charlain Bailey, she'd, Maggie's Organizations: Winthrop University, Rotary, Facebook, Thiel Foundation, Silicon, Niche, Community Foundation, Lehigh University ., Education's, Winthrop, Schug Foundation, Equitable Foundation, Equitable Locations: Charlotte , North Carolina, Winthrop, Carolina, California, San Diego, Aisosa Ede, Osifo, Dallas, North Carolina

☆ China's worsening relationship with US businesses could put AI's chip supply on shaky ground
▼ + stars: | 2024-09-23 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +6 min

In today's big story, China isn't proving to be the economic promised land US companies once hoped for . US-China relations have been on shaky ground for a while, to put it mildly. But despite the growing animosity, US corporations' push to sell things to Chinese consumers has been a middle ground everyone can agree on. AdvertisementTaiwan Semiconductor Manufacturing Company makes vital hardware components for most the world's chip companies, including industry giant Nvidia. Nvidia CEO Jensen Huang recently said his company has a backup plan if things were to kick off in Taiwan .

Persons: —, Jamie Dimon, Tyler Le, Insider's Linette Lopez, It's, that's, Kiran Ridley, Stringer, Getty, Jensen Huang, Huang, Alyssa Powell, Trump, Harris, isn't, Howard Marks, Marks, Rebecca Noble, Vance, Tom Brady, Jeff Bezos, it's, Ryan Routh, Donald Trump, Dan DeFrancesco, Jordan Parker Erb, Jack Sommers, Amanda Yen, Grace Lett, Milan Sehmbi Organizations: Service, Business, China Xinhua News Agency, Getty, Apple, Nike, Huawei, Taiwan Semiconductor Manufacturing Company, Nvidia, Billionaire, Economic Forum Locations: Washington ,, China, China . US, Washington, Beijing, Taiwan, USA, Florida, New York, London, Chicago

☆ Monday, September 23, 2024: The Club says not to trade this tech giant after its recent product release
▼ + stars: | 2024-09-23 | by ( ) www.cnbc.com time to read: 1 min

Monday, September 23, 2024: The Club says not to trade this tech giant after its recent product releaseGo behind the scenes with Jeff Marks of the CNBC Investing Club as he talks candidly about the market's biggest headlines, analyst calls and holdings in the Charitable Trust—and see up close how The Club decides when, and if, to take action on stocks.

Persons: Jeff Marks Organizations: CNBC, Club, Trust

☆ Remote work could become a secret weapon in the battle for top talent
▼ + stars: | 2024-09-23 | by ( Nora Redmond | ) www.businessinsider.com time to read: +5 min

Read previewThe list of companies abandoning remote work is growing. But for some experts, remote work won't die either. "There's a big race for talent out there," she told Business Insider, adding that "attracting talent into a business is hard these days." For others, flexible work has become a game changer and one they can't see themselves looking back on. In contrast, other companies will continue to embrace the advantages of flexible work.

Persons: —, Andy Jassy, PwC, Goldman Sachs, Kate Palmer, Palmer, Daniel Wheatley, Wheatley, Jassy Organizations: Service, Amazon, Big, Business, Citigroup, HSBC, Barclays, JPMorgan, Peninsula, University of Birmingham

☆ Employees angry about RTO mandates have essentially no legal path to fight them
▼ + stars: | 2024-09-23 | by ( Natalie Musumeci | ) www.businessinsider.com time to read: +5 min

Your boss says the company does not plan to require employees to return to the office. Some workers have filed lawsuits against their companies or charges with the National Labor Relations Board over RTO mandates. AdvertisementBut remote employees who simply argue that returning to the office is an inconvenience to their lifestyle have "zero chance" to fight the RTO mandate with legal action, Zambrano said. AdvertisementHowever, said Camacho Moran, just because an employee has an illness or a disability "does not mean that remote work is the appropriate accommodation." Reasonable accommodations under the ADA can include modifying a work schedule or workplace setting, as well as moving to remote work.

Persons: —, Ron Zambrano, Zambrano, Domenique Camacho Moran, Farrell Fritz, Camacho Moran, " Zambrano, it's Organizations: Service, Business, Trial, Amazon, Walmart, National Labor Relations Board Locations: California, Seattle, New York

☆ Wall Street warms to nuclear power as banks including Goldman Sachs reportedly back new push
▼ + stars: | 2024-09-23 | by ( Tom Carter | ) www.businessinsider.com time to read: +3 min

Read previewBig Tech is getting excited about nuclear power — and now Wall Street wants a piece of the action. However, their involvement could be crucial in helping meet the emissions target laid out in last year's COP28 climate conference and revive the nuclear energy sector. AdvertisementThat might soon change, and it's not just Wall Street getting more interested in nuclear power. Meanwhile, TerraPower, a company cofounded by Bill Gates, is planning a new nuclear power plant in Wyoming. AdvertisementGoldman Sachs, Morgan Stanley, Bank of America, Barclays, BNP Paribas, did not immediately respond to requests for comment from Business Insider, sent outside normal working hours.

Persons: —, Goldman Sachs, Morgan Stanley, Nuclear's, it's, OpenAI, Larry Ellison, We've, they've, Bill Gates Organizations: Service, Tech, Bank of America, Financial Times, Business, Citi, Barclays, BNP, US, Nuclear, Big Tech, Microsoft, ChatGPT, Oracle, Royce Locations: New York, Wyoming

☆ Microsoft’s first-mover advantage in AI is fading. Why we’re OK with that
▼ + stars: | 2024-09-23 | by ( Morgan Chittum | ) www.cnbc.com time to read: +6 min

Amazon , Meta Platforms and Apple are eating away at Microsoft's once-sizable lead in the heated artificial intelligence arms race, according to D.A. Early investments in ChatGPT creator OpenAI gave Microsoft the first-mover advantage in the AI race. Davidson analysts praised Amazon, Meta, and Apple as their top three. AMZN YTD mountain Amazon YTD In particular, D.A. META YTD mountain Meta Platforms YTD As for Meta, the Club sees potential in how AI helps boost user engagement with its chatbot baked into Facebook, WhatsApp and Instagram.

Persons: Davidson, Jim Cramer, Jim, it's, Gross, OpenAI, Copilot, That's, D.A, Mike Sievert, Jim Cramer's, Adam Gray Organizations: Microsoft, Big Tech, D.A, Apple, Club, Services, AWS, Amazon, Meta, Facebook, Mobile, Apple Intelligence, CNBC, Getty Locations: Microsoft's, Redmond, Washington, D.A, San Francisco, New York City

☆ California sues ExxonMobil for alleged decades of deception around plastic recycling
▼ + stars: | 2024-09-23 | by ( Angela Dewan | ) edition.cnn.com time to read: +4 min

CNN —California Attorney General Rob Bonta filed a lawsuit against ExxonMobil on Monday for what the state calls a “decades-long campaign of deception” in which the oil and gas giant allegedly misled the public on the merits of plastic recycling. Bonta is also asking the court to rule ExxonMobil must pay civil penalties, among other payments, for the harm inflicted by plastic pollution in California. “For decades, ExxonMobil has been deceiving the public to convince us that plastic recycling could solve the plastic waste and pollution crisis when they clearly knew this wasn’t possible. Recent reports have shown only around 9% of the world’s plastic is recycled, a figure that’s even lower in the US, around 5 to 6%. Recycling has not kept pace with plastic production, which has doubled over the past 20 years.

Persons: Rob Bonta, ExxonMobil “, Bonta, ” Bonta, “, Judith Enck, ”, Laura Paddison Organizations: CNN, ExxonMobil, San, Court, “, of Justice, ”, Environmental Protection Agency, Beyond Plastics, Bennington College in Locations: California, San Francisco County, Bennington College in Vermont

☆ Boeing sweetens labor proposal in 'best and final' offer as strike enters second week
▼ + stars: | 2024-09-23 | by ( Leslie Josephs | ) www.cnbc.com time to read: +2 min

Boeing on Monday sweetened its contract offer and said it was its "best and final" proposal for its more than 30,000 machinists as their strike, which has halted most of the aerospace giant's aircraft production, entered its second week. Boeing's new offer would raise general wages by 30% over four years, up from a previously proposed 25%. It also doubled the ratification bonus to $6,000, reinstated an annual machinist bonus and raised the company's 401(k) match. The labor union, the International Association of Machinists and Aerospace Workers, didn't immediately comment on the offer. The strike came as workers voted 94.6% against the previous proposal that the union had endorsed.

Persons: didn't, group's, Kelly Ortberg, Ron Epstein Organizations: Boeing, International Association of Machinists, Aerospace Workers, Bank of America, CNBC Locations: Renton , Washington, Seattle

CNN —Multiple people opened fire Saturday night in a bustling area of Birmingham, Alabama, killing four people and injuring 17 others. Seventeen other people were injured, according to Birmingham Police Chief Scott Thurmond. Authorities believe the deadly shooting was a targeted “hit.”Here’s what we know about the mass shooting. “Someone was willing to pay money to have that person killed,” Birmingham Police Chief Scott Thurmond said Sunday. “All of a sudden it was just gunshots, gunshots, gunshots,” Eslami told CNN.

Persons: Truman Fitzgerald, Anitra, Tahj Booker, Carlos McCain, Scott Thurmond, Fitzgerald, Thurmond, Randall Woodfin, ”, Gabriel Eslami, ” Eslami, “, Eslami, didn’t, Dajon Singleton, WBMA, ” “, Singleton, WBMA.Singleton, Woodfin, “ Glock, ” Woodfin, Ban Glock, ” Fitzgerald, CNN’s Zoe Sottile, Raja Razek Organizations: CNN, Police, Anitra Holloman, Authorities, Birmingham Police, Birmingham Police Department, FBI, University of Alabama, Birmingham, WVRC, WVTM, Alcohol, Tobacco, Firearms, Explosives, US, Facebook, ” Authorities Locations: Birmingham , Alabama, Birmingham, Birmingham’s, State

☆ Microsoft downgraded on fear its AI lead over Amazon and Google is gone
▼ + stars: | 2024-09-23 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +2 min

Analyst Gil Luria maintained his price target of $475, which is approximately 9% higher than where Microsoft stock closed on Friday. In particular, Amazon Web Services and Google Cloud Platform appear to pose the biggest threats to Microsoft's Azure cloud computing platform. But Amazon Web Services is now adding nearly as much cloud business, while Google Cloud Platform's current acceleration is comparable to that of Azure's last-quarter growth rates. "While Microsoft has discussed its Maia chips, it is years behind Amazon and Google and appears to be using them only to run Azure OpenAI Services workloads. We believe this means Microsoft has been escalating an arms race it may not be able to win."

Persons: D.A, Davidson, Gil Luria, Luria, Maia Organizations: Microsoft, Amazon Web Services, Google, Services, Amazon, OpenAI Locations: OpenAI

☆ Qualcomm buying Intel doesn't make sense, Wall Street's top chip analyst says
▼ + stars: | 2024-09-23 | by ( Emma Cosgrove | ) www.businessinsider.com time to read: +1 min

Qualcomm is reportedly interested in acquiring Intel, but analysts are skeptical. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Go to newsletter preferences Thanks for signing up! download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . But one of Wall Street's most heeded chip luminaries has waded in, and he's largely not in favor.

Persons: —, Stacy Rasgon Organizations: Qualcomm, Intel, Service, Business

☆ We asked millennials and Gen Zers for their top hidden-gem travel destinations. Here's what they said.
▼ + stars: | 2024-09-22 | by ( Maria Noyen | Mykenna Maniece | ) www.businessinsider.com time to read: +1 min

As more young people prioritize travel, we took to the streets of NYC to learn where they're going. Go to newsletter preferences Thanks for signing up! download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementDepending on where you're reading this, you might have noticed a chill in the morning air or leaves turning a golden shade of brown. But while summer is coming to an end, people's travel plans are not — and that's especially true for younger generations.

Persons: —, Gen Zers, Gen Xers Organizations: Service, McKinsey, Business Locations: NYC, Turkey, Vietnam

We'll show you everything you need to know about how to watch the Chiefs vs. Keep reading to learn how to tune in, whether you have cable or are seeking out a live streaming option. How to watch Chiefs vs. Check price at FuboHow to watch Chiefs vs. Check price at DAZNHow to watch Chiefs vs.

Persons: Peacock, ExpressVPN Organizations: Business, Kansas City Chiefs, Chiefs, . Falcons, Atlanta, Super, Falcons, Philadelphia Eagles, US, NBC, Sunday, Football, Premium, NBC NFL, NFL Locations: America, United States, China

☆ Top Wall Street analysts find these stocks promising for the long haul
▼ + stars: | 2024-09-22 | by ( Tipranks.Com Staff | ) www.cnbc.com time to read: +6 min

Investors seeking stocks that can withstand short-term pressures and deliver over the long term should track the recommendations of top Wall Street analysts. Bearing that in mind, here are three stocks favored by the Street's top pros, according to TipRanks, a platform that ranks analysts based on their past performance. Recently, Baird analyst Colin Sebastian reiterated a buy rating on Take-Two Interactive stock with a price target of $172. He anticipates the mobile business will contribute around $3.1 billion, and catalog/live services will generate $2.5 billion in the full year. Benedict noted that the August comparable sales growth was sequentially steady compared to the 7.2% increase in July, as stronger traffic was offset by some moderation in average traffic growth.

Persons: Baird, Colin Sebastian, Max Payne, Sebastian, TipRanks, Peter Benedict, bullish, Costco's, Benedict, Doug Anmuth, Anmuth Organizations: Netflix, Wall Street, Costco Wholesale, Costco, JPMorgan Locations: Flora, TipRanks

☆ Insider Today: Nike's airball
▼ + stars: | 2024-09-22 | by ( Matt Turner | ) www.businessinsider.com time to read: +5 min

Go to newsletter preferencesSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. This story is available exclusively to Business Insider subscribers. I'll be here on the weekend to break down some of the biggest stories in business and help you get ahead. The Oregon-based company last week announced Elliott Hill would return to the company as CEO, replacing John Donahue. AdvertisementAn internal "Frequently Asked Questions" document, obtained by Business Insider, outlined how the RTO plan will work.

Persons: —, Matt Turner, Donald Trump, There's, It's, it's, Elliott Hill, John Donahue, Dre Waltizer, Jeff Chiu, Alyssa Powell, Larry, Wayne Osborne, Osborne, Wayne, Andy Jassy, David X Prutting, Paul Porter, Rebecca Zisser, Alexander brothers, Oren, Alon, Tal Alexander, iStock, — Mark Zuckerberg, Taylor Swift Organizations: Service, Fed, Nike, Business, Investors, Google Locations: China, The Oregon

☆ F1 practice in Singapore halted after lizard runs onto track
▼ + stars: | 2024-09-21 | by ( Ben Morse | ) edition.cnn.com time to read: +2 min

But there was a unique sight in the final practice session on Saturday ahead of Sunday’s Singapore Grand Prix when an adventurous lizard put a halt to proceedings. Marshals chase a lizard from the track during practice ahead of the Singapore GP. The F1 X account once again described the situation succinctly, saying: “Things are getting surreal.”Eventually, the lizard was cleared from the track and the final practice session resumed. It’s not the first time a lizard has interrupted racing in Singapore. In 2016, Max Verstappen laughingly complained about a “giant lizard” on the track during practice before it hastily ran off and away from speeding cars.

Persons: Mercedes, George Russell, –, Rudy Carezzevoli, Daniel Ricciardo, It’s, Max Verstappen laughingly Organizations: CNN, Sports, NFL, Singapore, Prix, Circuit Locations: Singapore

☆ Motel 6 sold to Indian hotel operator Oyo for $525 million
▼ + stars: | 2024-09-21 | by ( ) www.cnbc.com time to read: +1 min

The budget motel chain Motel 6 is being acquired by the parent company of Oyo, a hotel operator based in India. The New York-based investment firm Blackstone , which owns Motel 6's parent company G6 Hospitality, announced Friday that the deal would be an all-cash transaction worth $525 million. The transaction will also include the sale of the Studio 6 motel brand, which caters to customers seeking extended stays. Oyo, which launched in India just over a decade ago, has been expanding its footprint in the U.S. over the past few years. Under the deal, Oravel Stays, which owns Oyo, will acquire G6 Hospitality.

Persons: Blackstone, Gautam Swaroop, Rob Harper, Oravel Organizations: The, Hospitality, Blackstone, Estate Asset Management Locations: Oyo, India, The New York, U.S

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