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☆ Denmark's King Frederik X appears before huge crowds after taking the throne
▼ + stars: | 2024-01-14 | by ( ) www.cnbc.com time to read: +2 min

Denmark's King Frederik X ascended the throne on Sunday, succeeding his mother, Queen Margrethe II, who formally abdicated after 52 years as monarch, with big crowds gathered in the capital to witness history. The new king was later proclaimed by Prime Minister Mette Frederiksen on the balcony of the parliament, Christiansborg castle, with the words "Long live King Frederik the 10th." It is a task I take on with pride, respect and joy," Frederik said in his first speech as king from the balcony overlooking large crowds of cheerful people. The new king and queen later rode by horse carriage through packed crowds in the streets of Copenhagen back to their residence, Amalienborg, a royal complex built in the 1750s and located in central Copenhagen. The new king and queen take the throne at a time of huge public support and enthusiasm for the monarchy.

Persons: Denmark's King Frederik X, Queen Margrethe II, Margrethe, Mette Frederiksen, King Frederik the, Frederik, Mary, Princess Isabelle, Princess Josephine, Prince Vincent, Kasper Wiigh Larsen, Danes Organizations: of State Locations: Danish, Denmark, Christiansborg, Copenhagen, Amalienborg

☆ National Association of Realtors president says she is resigning after blackmail threat
▼ + stars: | 2024-01-08 | by ( Dan Mangan | ) www.cnbc.com time to read: +3 min

The president of the National Association of Realtors on Monday said she was resigning due to a blackmail threat that sought to "compromise" her leadership role. NAR President Tracy Kasper said she had notified the group's leadership team "that she recently received a threat to disclose a past personal, non-financial matter unless she compromised her position at NAR." President-elect Kevin Sears will immediately step into the post at the group, which represents more than 1.5 million members working in the residential and commercial real estate industries. and the majority owner of two other real estate companies in the state, according to her NAR bio. Also, the article was updated to reflect that Kasper wasn't president of the NAR in 2016.

Persons: Tracy Kasper, Kasper, Kevin Sears, Kenny Parcell, Bob Goldberg, Berkshire Hathaway, Silverhawk, CNBC's Diana Olick, Kasper wasn't Organizations: National Association of Realtors, NAR, New York Times, CNBC PRO Locations: Berkshire, Boise Valley , Idaho

☆ The head of the National Association of Realtors abruptly resigned. She says she faced a blackmail threat.
▼ + stars: | 2024-01-08 | by ( Associated Press | ) www.businessinsider.com time to read: +2 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewThe National Association of Realtors is grappling with more turmoil in its top leadership ranks just over two months after the trade group's CEO stepped down well before his planned retirement. The Chicago-based organization said Monday that NAR president Tracy Kasper has resigned, effective immediately, and is being succeeded by the trade group's president-elect, Kevin Sears. In a statement, the NAR said Kasper recently received a "threat to disclose a past personal, non-financial matter unless she compromised her position at NAR." In early November, former NAR CEO Bob Goldberg announced he would be stepping down nearly two months before his planned retirement.

Persons: —, Tracy Kasper, Kevin Sears, Kasper, Bob Goldberg, Nykia Wright, Kenny Parcell Organizations: Service, Association of Realtors, Business, NAR, Chicago Sun, Times, The New York Times Locations: Chicago, Kansas City , Missouri, The, Utah

☆ At their annual mega-party, real estate agents on edge over the potential erosion of their commissions
▼ + stars: | 2023-11-16 | by ( Anna Bahney | Samantha Delouya | ) edition.cnn.com time to read: +10 min

Courtesy National Association of RealtorsKasper echoed those sentiments in a keynote address to agents at the convention on Tuesday, telling agents: “We will continue to listen closely to your feedback. Real estate agents generate about $100 billion in commissions a year, according to the Department of Justice. And about half of that, plaintiffs in the recent case argue, goes to buyers’ agents. Visitors at the National Association of Realtors convention on November 14 in Anaheim, California. She said that buyers’ agreements may have to have wording that says that if a seller doesn’t agree to pay the buyer’s agent commission, the buyer is on the hook for that money.

Persons: Keller Williams, Tracy Kasper, Berkshire Hathaway, Silverhawk, ”, ” Tracy Kasper, National Association of Realtors Kasper, Renée Roqué, Alexis McGee, “, Liu Guanguan, John Natale, Natale isn’t, Lynn Madison, Madison, Chuck Simons, “ It’s, Matt Troiani, Troiani, it’s, ” Troiani, ” ‘, Jim Flanagan, Flanagan, isn’t, Nate Johnson, haven’t, Johnson Organizations: California CNN, National Association of Realtors, NAR, of Justice, NXT, Department of Justice, China News Service, Social Media, Realtors, Coldwell, RedKey Realty Locations: Anaheim, California, Missouri, America, Texas, Berkshire, Boise , Idaho, Stevenson Ranch , California, San Mateo County , California, New Jersey, Anaheim , California, Illinois, Valencia , California, Ocean County , New Jersey, Flanagan’s, St, Louis , Missouri

The Chicago-based NAR said Thursday that Bob Goldberg would be stepping down after a 30-year career at the trade association. Nykia Wright, former CEO of the Chicago Sun-Times, was tapped to take over on an interim basis, beginning Nov. 20. Real estate agents must be dues-paying members of the NAR in order to advertise themselves as Realtors. Its size and influence in the U.S. real estate industry has not only made the trade association a target in litigation, but also brought it under the scrutiny of the Justice Department. The department filed a complaint in 2020 against the NAR, alleging it established and enforced rules and policies that illegally restrained competition in residential real estate services.

Persons: Bob Goldberg, Nykia Wright, Goldberg, “, Wright, Kenny Parcell, Tracy Kasper Organizations: ANGELES, National Association of Realtors, Chicago Sun, NAR, The New York Times, Realtors, Justice Department, of, U.S ., Times Locations: Chicago, Kansas City , Missouri, Missouri, The, Utah, U.S, Western, of Missouri

☆ National Association of Realtors CEO steps down, days after real estate group found liable for conspiring to inflate rates
▼ + stars: | 2023-11-02 | by ( David Goldman | Anna Bahney | ) edition.cnn.com time to read: +2 min

Washington, DC CNN —Bob Goldberg, chief executive officer of the National Association of Realtors, the nation’s largest trade association, is stepping down, the organization announced Thursday. Earlier this week, a federal jury in Missouri found NAR and two brokerages conspired to keep real estate agent commissions artificially high and determined they were liable for $1.8 billion in damages. Nykia Wright, previously CEO of the Chicago Sun-Times, has been appointed NAR interim Chief Executive Officer, starting November 20th. “We are delighted to welcome Nykia as interim CEO,” said NAR President Tracy Kasper, a real estate agent from Nampa, Idaho, and broker-owner of Berkshire Hathaway HomeServices Silverhawk Realty. He added: “Nykia’s strategic expertise and forward-looking perspective are exactly what NAR needs to continue advancing its mission in an ever-changing world.”

Persons: Bob Goldberg, Kenny Parcell, Redfin, Nykia Wright, Nykia, ”, Tracy Kasper, Berkshire Hathaway, Silverhawk, Kasper, “, ” Goldberg Organizations: DC CNN, National Association of Realtors, NAR, Chicago Sun, Times, Sun - Locations: Washington, Missouri, Nampa , Idaho, Berkshire

☆ Investors deliver harshest punishment for earnings warnings in 16 years
▼ + stars: | 2023-10-27 | by ( Lucy Raitano | ) www.reuters.com time to read: +4 min

Barclays (BARC.L), a big UK lender, fell as much as 8% after signalling major cost cuts because of weakness on its home turf. Mark Denham, head of European equities at Carmignac, said high quality companies with high valuations tend to be very vulnerable if they miss earnings. According to Kasper Elmgreen, CIO at Nordea Asset Management, the fact that the economy is now starting to slow is one factor behind investors' harsh treatment of earnings disappointments. Amid the volatility, some investors see a buying opportunity in overly punished stocks. It is an example of a highly valued stock being extra punished for the environment," Denham said.

Persons: Morgan Stanley, Angelo Meda, Mark Denham, Denham, Kasper Elmgreen, Elmgreen, Fabio Di Giansante, Carmignac's Denham, Danilo Masoni, Alun John, Joice Alves, Amanda Cooper, Hugh Lawson Organizations: Sanofi, Barclays, Banor SIM, Siemens Energy, Volkswagen, Volvo, Asset Management, Euroland Equity, pharma, Thomson Locations: Milan, Swiss, London

☆ Navigating Today's Housing Market
▼ + stars: | 2023-10-12 | by ( Diana Olick | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailNavigating Today's Housing MarketWith mortgage rates high and housing inventories low, the market for home buyers and sellers is a tricky one. Advising clients on what might be the biggest sale and purchase decisions they ever make is tough even in the best of times. National Association of Realtors President Tracy Kasper joins CNBC Senior Climate and Real Estate Correspondent Diana Olick to make sense of it all.

Persons: Tracy Kasper, Diana Olick Organizations: National Association of Realtors, CNBC, Real Estate

☆ Mortgage rates near 8%, an 'inventory crisis': Homebuyers face a 'tricky' market, expert says
▼ + stars: | 2023-10-12 | by ( Annie Nova | ) www.cnbc.com time to read: 1 min

Prospective buyers visit an open house for sale in Alexandria, Virginia. The housing market is dealing with several "tricky" dynamics, according to Tracy Kasper, president of the National Association of Realtors. That slowdown in home sales comes after "exponential increases year over year" during the Covid-19 pandemic, Kasper said. With fewer people selling their houses, she said, there is now an "inventory crisis." "We've seen a crunch — our first-time homebuyers are struggling," she added.

Persons: Tracy Kasper, Kasper Organizations: National Association of Realtors, CNBC's Locations: Alexandria , Virginia

☆ Head of powerful real estate trade group resigns amid sexual harassment allegations
▼ + stars: | 2023-08-29 | by ( Anna Bahney | ) edition.cnn.com time to read: +2 min

Washington, DC CNN —The National Association of Realtors, the 1.5 million-member trade association that dominates the real estate industry, announced on Monday that its president, Kenny Parcell, has resigned amid sexual harassment allegations. In the Times article, Parcell denied the accusations. Parcell, a real estate agent in Utah, moved up through the nonprofit membership organization over many years serving in state, regional and, ultimately, national leadership positions, according to NAR. “We are committed to taking real action toward rebuilding trust with staff and addressing the concerns we heard,” he said in a staff memo following the meeting. NAR says it is committed to providing a safe, productive and welcoming environment for staff and association members free from discrimination, harassment and retaliation.

Persons: Kenny Parcell, Parcell’s, Parcell, Tracy Kasper, Kasper, “, what’s, ” Kasper, Bob Goldberg, ” Organizations: DC CNN, National Association of Realtors, New York Times, NAR, CNN, Times, Parcell Locations: Washington, Utah, Chicago

☆ TSMC's Arizona plant is delayed over poor management, not a shortage of US skilled labor, workers building it say
▼ + stars: | 2023-08-23 | by ( Jacob Zinkula | ) www.businessinsider.com time to read: +11 min

TSMC, however, has maintained that the incoming Taiwanese workers will not be a threat to US jobs. The pipe cutter said that TSMC and its key contractors were largely to blame for the management problems. After complaining about one safety issue for two straight weeks, he said, he spoke with a company safety representative. And then you go to degown, and they don't have your hanger or somebody took your hanger," the pipe cutter said. He added: "It's not like we're against the Taiwanese workers or anything.

Persons: TSMC, they're, it's, didn't, he's, —, they'd, they've, Everyone's, we're, It's, Luke Kasper, Arizona Organizations: Service, Taiwan Semiconductor Manufacturing, Arizona Pipe, Intel, New York Times, Times, American Prospect, TSMC Locations: Arizona, Wall, Silicon, chipmaker, TSMC, Taiwan, United States, degown

☆ A feud is heating up between Arizona workers and the world's leading chipmaker after the company claimed the US doesn't have the skills to build its new factory
▼ + stars: | 2023-08-13 | by ( Jacob Zinkula | ) www.businessinsider.com time to read: +6 min

The company says it needs to bring Taiwanese workers to Arizona to get construction back on track. But construction of TSMC's first Arizona factory, which began in the Phoenix area in 2021, has run into some hiccups. "Replacing Arizona's construction workers with foreign construction workers directly contradicts the very purpose for which the CHIPS Act was enacted – to create jobs for American workers," the petition says. The degree to which American workers can get the job done without additional assistance is up for debate. "It's easily the most unsafe site I've ever walked on," said Luke Kasper, a representative of the sheet metal workers union.

Persons: TSMC, that's, Biden, Mark Liu, Liu, It's, Luke Kasper, TMSC, Morris Chang, Chang, Kevin Xu Organizations: Service, Taiwan Semiconductor Manufacturing Company, Arizona Pipe, Google, Facebook, YouTube Locations: Arizona, An Arizona, Wall, Silicon, China, TSMC's, Phoenix, Taiwan, TSMC, Asia

☆ Adidas will sell some leftover Yeezy inventory instead of burning it, CEO says
▼ + stars: | 2023-05-11 | by ( Jessica Golden | ) www.cnbc.com time to read: +2 min

Adidas intends to sell part of its leftover Yeezy inventory and donate the money to charities that were harmed by Ye's anti-Semitic comments, the company's chief executive said Thursday. Gulden took the helm of Adidas on Jan. 1, following CEO Kasper Rorsted's departure. Adidas' most recent earnings beat expectations but were weighed down by Yeezy inventory piling up. The company parted ways with Ye in October following months of bizarre behavior and antisemitic comments from the hip hop artist. The split left Adidas with inventory levels of $500 million worth of sneakers, with selling value of over $1 billion, according to the company.

☆ Bet365 must pay compensation to Danish soccer star Eriksen and others, court finds
▼ + stars: | 2023-05-08 | by ( ) www.reuters.com time to read: +1 min

The owner of Bet365, Malta-based Hillside Plc, was ordered to pay 4.7 million Danish crowns ($697,000) to the athletes, including badminton player and Olympic champion Viktor Axelsen, football player Simon Kjaer and goalkeeper Kasper Schmeichel. Manchester United midfielder Eriksen, whose image was used the most frequently according to the plaintiffs, was awarded the largest sum amounting to 1.45 million crowns, the verdict showed. While Bet365 had argued that its use of names and images should be regarded as editorial content, and was therefore not subject to payments, the court found instead that it amounted to marketing that required consent. Reuters was not immediately able to reach the company or its lawyers for comment. ($1 = 6.7433 Danish crowns)Reporting by Louise Breusch Rasmussen, editing by Terje Solsvik and Louise HeavensOur Standards: The Thomson Reuters Trust Principles.

☆ As sales decline, Adidas faces pressure to find Yeezy fix
▼ + stars: | 2023-05-04 | by ( Helen Reid | ) www.reuters.com time to read: +3 min

Gulden in March said the company could donate the proceeds of the Yeezy sale to charities, but Adidas has given no updates since. The Anti-Defamation League, an international Jewish non-governmental organisation based in New York, told Reuters it "stands ready and prepared to work with Adidas". The American Jewish Committee met with Adidas executives in December to discuss their commitment to reject antisemitism. Shareholders want Adidas to draw a line under the Yeezy episode and develop ways to reboot the brand. "Being successful with Yeezy probably made Adidas lazy on finding other growth drivers," said Cedric Rossi, nextgen consumer analyst at Bryan Garnier in Paris.

☆ Investors Sue Adidas Over Kanye West Collaboration
▼ + stars: | 2023-05-01 | by ( Joseph De Avila | ) www.wsj.com time to read: 1 min

Kanye West had produced the popular Yeezy collection for Adidas. Photo: Neilson Barnard/Getty Images for AdidasA group of shareholders is suing Adidas AG, alleging the sportswear company failed to warn investors it was aware of Kanye West’s antisemitic remarks and “extreme behavior.”The proposed class-action lawsuit, filed in U.S. District Court in Oregon on Friday, alleges former CEO Kasper Rorsted and Harm Ohlmeyer , the company’s chief financial officer, were involved in disseminating false and misleading statements about Adidas’s relationship with Mr. West, who legally changed his name to Ye.

☆ Adidas sued by shareholders over its failed Ye partnership
▼ + stars: | 2023-05-01 | by ( Jordan Valinsky | ) edition.cnn.com time to read: +2 min

In the lawsuit, filed Friday in a federal court, shareholders allege that Adidas “routinely ignored” his behavior as early as 2018. They claim that senior executives “ignored serious issues” affecting the Yeezy partnership, namely his antisemitic remarks and troubling public comments about slavery. The lawsuit said that Adidas was aware of his behavior and that the company “failed to take meaningful precautionary measures to limit negative financial exposure” if the partnership ended. Adidas (ADDDF) ended its almost decade-long partnership in October 2022 after Ye wore a “White Lives Matter” T-shirt in public. Days later, Ye said “I can say antisemitic s*** and Adidas (ADDDF) cannot drop me” during a podcast taping.

☆ Chamber of Commerce gets nearly half its funding from those who give at least $1 million
▼ + stars: | 2023-04-26 | by ( Brian Schwartz | ) www.cnbc.com time to read: +3 min

The U.S. Chamber of Commerce pitches itself as representing the interests of millions of businesses of all shapes and sizes. The chamber, according to the study, brought in 18 contributions from those who donated anywhere from $2 million to over $4 million. The report says that the group raised around $54 million from those big-money contributors alone. And like America, the vast majority of our members — 90% — are small businesses and state and local chambers of commerce." By all measures, our impact for them is substantial and small businesses are strongly engaged with the Chamber."

When bond yields fall, their price rises. But asset managers that run large government bond portfolios still expect bond yields to rise and say they are selling into the rally, expecting the European Central Bank and the U.S. Federal Reserve stay hawkish. Legal and General Investment Management (LGIM), the UK-based $1.6 trillion asset manager, is also reducing its exposure to government bonds, taking profits following the bond rally. As selling gripped bank shares on Wednesday, money market pricing suggested traders were leaning towards a 25 basis-point Fed rate increase next week. "We expect rates to rise," agreed Brian Nick, chief investment strategist at $1.1 trillion U.S. asset manager Nuveen.

☆ Departure of CEO to cost Adidas 16 million euros
▼ + stars: | 2023-03-08 | by ( ) www.reuters.com time to read: +1 min

BERLIN, March 8 (Reuters) - The early departure of CEO Kasper Rorsted will cost Adidas (ADSGn.DE) nearly 16 million euros ($16.86 million), according to an annual report released on Wednesday. The Danish national, who left the German sportswear maker in November almost four years before the end of his contract, will receive a severance payment of 12 million euros. In addition, he will receive around 3.6 million euros as compensation for not joining a competitor within the next 18 months, as well as his remaining salary of around 300,000 euros for November and December. The latter totaled 14.2 million euros a year earlier. ($1 = 0.9490 euros)Reporting by Alexander Huebner, Writing by Friederike Heine, Editing by Paul CarrelOur Standards: The Thomson Reuters Trust Principles.

☆ Europe grew faster than the US last year. Its markets are outperforming too
▼ + stars: | 2023-02-01 | by ( Anna Cooban | ) edition.cnn.com time to read: +5 min

The overall rise is a reversal of a 15-year trend that has seen US stock indices, flush with fast-growing tech companies, consistently beat those across the Atlantic. Over the past decade, investors poured money into fast-growing tech stocks, aided by ultra-low interest rates. (SXXL)But tech companies have taken a beating recently. Tech companies, including Microsoft and Alphabet, announced thousands of layoffs last month. High interest rates make it more expensive for companies to borrow to expand their business, raising doubts about their future earnings.

REUTERS/Phil NobleCOVENTRY, England, Feb 1 (Reuters) - Developing fully autonomous vehicles (AVs) that can go everywhere has proven harder and more expensive than expected, but investors are continuing to fund startups that target simpler self-driving vehicle solutions far removed from pedestrians and other vehicles operated by unpredictable humans. Earlier promises made by robotaxi companies of operating fleets of vehicles by the early 2020s have fallen well short. BMW iVentures has also invested in AV truck technology firm Kodiak Robotics, which managing partner Sage said has adopted a simpler approach to areas like mapping. Construction and agricultural equipment - used off-road in low-traffic environments - has been another growth area for AV startups. U.S. agricultural equipment maker AGCO Corp (AGCO.N), for instance, is using the Palo Alto, California-based startup's software for an experimental automated electric planter.

☆ Europe's luxury stocks have room to rise, but becoming costly
▼ + stars: | 2023-01-31 | by ( Lucy Raitano | ) www.reuters.com time to read: +5 min

REUTERS/Sarah Meyssonnier/FilesLONDON, Jan 31 (Reuters) - Europe's glittering luxury companies, the region's top stock-market performers in 2023, may see yet more gains driven by a rebound in Chinese spending, but for some the sector is starting to look expensive. An index of European luxury goods retailers (.dMIEU0TA00PUS) has rallied around 18% so far this year, outperforming the wider pan-European STOXX 600 (.STOXX), which is up 6.2% in the same time frame. But the fact that luxury goods companies are not as cheap as they once were is a "concern/point of attention", said Kasper Elmgreen, Head of Equities at Amundi, Europe's largest asset manager. Jelena Sokolova, senior equity analyst at Morningstar, said that China reopening is the key issue for European luxury stocks this year, and is already at least 50% priced in. These shares have more room to run higher as Chinese consumers hit the shops again and luxury companies flex their pricing power.

☆ Tech's ultimate nepo babies: Meet the Drapers, the first family of Silicon Valley
▼ + stars: | 2023-01-23 | by ( Sindhu Sundar | ) www.businessinsider.com time to read: +10 min

The billionaire Tim Draper is part of a lineage often lauded as Silicon Valley's premier VC family. As far as powerful professional networks go, it's hard to top the Draper family tree. Draper's venture-capital career began in the 1950s at his father's own trailblazing firm, Draper, Gaither, and Anderson, an early entrant in a new field. Meet the Draper family, the ultimate tech nepo babies and Silicon Valley royalty. Jesse DraperJesse Draper founded Halogen Ventures, which counts her father as an advisor.

☆ Protests held as Italy's La Scala opens season with Russian opera
▼ + stars: | 2022-12-07 | by ( Sara Rossi | ) www.reuters.com time to read: +3 min

[1/5] Demonstrators holding Ukrainian flags and signs protest outside of La Scala opera house, ahead of its 2022-23 season opening night performance of "Boris Godunov," a Russian-composed opera performed by Russian artists, in Milan, Italy, December 7, 2022. REUTERS/Flavio Lo ScalzoMILAN, Dec 7 (Reuters) - Milan's La Scala theatre opened its 2022-2023 opera season on Wednesday with a gala performance of the Russian work "Boris Godunov" as protesters against the Ukrainian war demonstrated outside the venue. "We have nothing against the Russian people, against Russian history, against Russian culture," Meloni told reporters before the performance. She questioned why La Scala had not changed its programme over the nine months since the war began. Russian bass Ildar Abdrazakov took the lead role as Godunov while Russian soprano Anna Denisova was Kseniya, his daughter.

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